Starting from 1 November 2024, the NBU will start gradually replacing the 50- and 200-hryvnia banknotes of the 2003–2007 designs (i.e., the old design) with latest-generation banknotes of the same denominations (design of 2014 and subsequent years of issue).
Ukrainians will not need to exchange the old banknotes.
They can freely continue to pay with old-design banknotes, as they will remain valid means of payment.
How will the gradual replacement take place?
From 1 November 2024, the NBU, together with the banks, will start to gradually withdraw these banknotes from cash circulation in Ukraine. In particular:
- the banks will not issue these banknotes from their cash desks under any types of cash transactions
- the NBU will stop issuing these banknotes to the banks, cash collection companies, and cash processing companies.
When received by the banks, 50- and 200-hryvnia banknotes will no longer be returned to circulation, but will be withdrawn and transferred to the NBU for further recycling and disposal.
At the same time, the replacement of the old 50- and 200-hryvnia banknotes with modern ones, which will have enhanced security, will not affect cash settlements, and people will not need to take any additional steps to exchange them.
Why do previous-generation banknotes need to be replaced?
In order to improve the quality of cash in circulation, the NBU is working comprehensively to optimize cash circulation and is consistently replacing all banknotes issued in previous years with more modern and secure ones.
The replacement of old-design 50- and 200-hryvnia banknotes will complete this process. As a result, the hryvnia banknote and coin denominations will contain only latest-generation banknotes. This will strengthen the quality and reliability of the national currency in circulation.
This process is gradual and does not create any inconvenience for cash settlements, while at the same time benefiting the state, the banks, retailers, and individuals.
As a reminder, the following denominations of banknotes are already being gradually withdrawn from circulation and replaced:
- 1 and 2 hryvnias of the 2003–2007 designs – starting from 1 October 2020
- 5, 10, 20, and 100 hryvnias of 2003–2007 designs – starting from 1 January 2023
- 500 hryvnias – starting from 1 August 2024.
Source: NBU