Starting March 2, 2026, banknotes in denominations of 1, 2, 5 and 10 hryvnias of 2003-2007 will be replaced by the corresponding circulating coins.
This is stated in the message of the NBU, the Ukrainian News agency reports.
From this date, these banknotes will cease to be legal tender and will be withdrawn from cash circulation. They will not be used for cash payments, and all retailers, service providers, banks, and financial institutions will not accept them for payments for goods, services, and payment transactions.
Citizens will have enough time to exchange their existing 1, 2, 5 and 10 hryvnia banknotes. They will be able to exchange them for circulating coins and banknotes of all denominations in circulation without restrictions and without charging a fee for such an exchange:
- in all branches of Ukrainian banks - within one year from the date of their withdrawal from circulation, until February 26, 2027 inclusive;
- in authorized banks (JSC "Oschadbank", JSC CB "PrivatBank", JSC "Raiffeisen Bank", JSC "FUIB") - for three years from the date of their withdrawal from circulation, until February 28, 2029 inclusive;
- in the National Bank - currently indefinitely.
It is noted that banknotes in denominations of 1, 2, 5 and 10 hryvnias are currently almost not found in retail trade, and citizens hardly ever pay with them. Their average shelf life is about 2.5 years. In other words, the banknotes of these denominations that are still in circulation are actually worn out.
The gradual withdrawal of these banknotes by Ukrainian banks, authorized banks, and the NBU began almost six years ago:
- from October 01, 2020 - banknotes in denominations of 1 and 2 hryvnias;
- from January 1, 2023 – in denominations of 5 and 10 hryvnias.
As the Ukrainian News agency earlier reported, circulating coins in denominations of 1, 2, 5 and 10 hryvnias have been in circulation for many years (circulating coins in denominations of 1 and 2 hryvnias were put into circulation on April 27, 2018, 5 hryvnias on December 20, 2019, and 10 hryvnias on June 3, 2020). The circulation period of coins is much longer than that of banknotes and is about 20-25 years.
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