From March 2, 2026, banknotes in denominations of 1, 2, 5 and 10 hryvnias of 2003–2007 will be replaced with corresponding circulation coins.
This is stated in a message from the National Bank, Ukrainian News Agency reports.
From this date, these banknotes will cease to be means of payment and will be withdrawn from cash circulation.
They will not be used for cash payments, and all retail chains, service enterprises, 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 banknotes in denominations of 1, 2, 5 and 10 hryvnias.
They can be exchanged for circulation coins and banknotes of all denominations in circulation without restrictions and without charging a fee for such an exchange:
- in all branches of banks of Ukraine - within a year from the date of their withdrawal from circulation, until February 26, 2027 inclusively;
- in authorized banks (JSC Oschadbank, JSC CB PrivatBank, JSC Raiffeisen Bank, JSC FUIB) - within three years from the date of their withdrawal from circulation, until February 28, 2029 inclusively;
- in the National Bank - for an indefinite period.
It is noted that banknotes in denominations of 1, 2, 5 and 10 hryvnias are currently almost not found in retail trade, citizens almost do not pay with them.
Their average shelf life is about 2.5 years.
That is, in fact, banknotes of these denominations that were still in circulation are worn out.
Their gradual withdrawal by banks of Ukraine, authorized banks and the National Bank began almost six years ago:
- from October 1, 2020 - banknotes in denominations of 1 and 2 hryvnia;
- from January 1, 2023 - banknotes in denominations of 5 and 10 hryvnia.
As Ukrainian News Agency earlier reported, circulation coins in denominations of 1, 2, 5 and 10 hryvnia have been in circulation for many years (circulation coins in denominations of 1 and 2 hryvnia were put into circulation on April 27, 2018, 5 hryvnia on December 20, 2019 and 10 hryvnia on June 3, 2020).
The duration of circulation of coins is much longer than banknotes, and is about 20–25 years.
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