There is clear economic logic behind introduction of new 2,000-hryvnia banknote - NBU head Andrii Pyshnyi

Starting September 4, 2026, the NBU will put a new 2,000-hryvnia banknote into circulation. The decision to introduce this new denomination is a result of economic development, but at the same time, the new banknote adds a new chapter to the rich visual history of Ukrainian statehood, noted NBU head Andrii Pyshnyi.

Each Ukrainian banknote, in its own way, documents the act of sovereignty and affirms Ukraine’s right to choose its own symbols, heroes, and history. That is why the introduction of the new banknote is a special event. NBU head Andrii Pyshnyi wrote about this on his Facebook page.

In his view, the introduction of the new 2,000-hryvnia banknote reflects changes in the economy and, at the same time, adds a new image to the grand visual history of Ukrainian statehood.

“With this banknote, we are documenting Ukrainian sovereignty, honoring our heroes, and speaking out about issues that are particularly important to address today.

We analyzed the rationale for this decision in detail and prepared thoroughly for its implementation. Above all, it is based on clear economic logic. Because the economy does not stand still, and the banknote series cannot be detached from its changes,” Andrii Pyshnyi noted.

He explained that in the nearly seven years since 2019—when the last new denomination, the 1,000-hryvnia banknote, was introduced—the Ukrainian economy has changed significantly.

“First came the COVID-19 crisis. Since 2022—a full-scale war. These upheavals have placed an unprecedented strain on public finances and altered many key indicators: revenues, price levels, and the volume and structure of cash in circulation. And these changes are clearly visible in the figures.

The volume of cash in circulation has more than doubled: from nearly UAH 390 billion in 2019 to over UAH 970 billion today. Wartime needs, in particular, have led to increased demand for cash,” notes the head of the NBU.

Andrii Pyshnyi reported that the share of 1,000-hryvnia banknotes by value has already exceeded 55%, and the price level, as measured by the inflation index, has doubled. At the same time, the average monthly salary in May 2026 reached nearly UAH 31,000. This is three times more than in 2019.

"The number of banknotes required for cash transactions has also increased. After the 1,000-hryvnia banknote was put into circulation, 10 of the highest-denomination banknotes were sufficient to receive the average monthly salary in cash. In 2026, more than 30 1,000-hryvnia banknotes are needed for this. Therefore, the decision to issue the 2,000-hryvnia banknote is not based on a single indicator. It is the result of a combination of factors that have created an objective need to make cash circulation more efficient,” said NBU head Andrii Pyshnyi.

As a reminder, a new 2,000-hryvnia banknote will be introduced into circulation on September 4, 2026. The banknote honors Vasyl Stus—a Ukrainian poet of the 1960s, translator, publicist, prose writer, thinker, literary scholar, literary critic, human rights activist, political prisoner of the USSR, a member of the Ukrainian Helsinki Group, one of the most active representatives of the Ukrainian dissident movement and a fighter for Ukraine’s independence in the 20th century, a laureate of the Taras Shevchenko State Prize (posthumously, 1991), and Hero of Ukraine (posthumously, 2005).

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