Economy 2022-08-15T07:05:14+03:00
Ukrainian news
NBU Cuts Number Of Banknotes For Utilization By 18.4% To 496.4 Million Pieces In 9M

NBU Cuts Number Of Banknotes For Utilization By 18.4% To 496.4 Million Pieces In 9M

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NBU, utilization, banknotes

The National Bank of Ukraine (NBU) reduced the number of worn out banknotes for utilization by 18.4% to 496.4 million pieces in the first nine months of 2018 year over year.

The NBU announced this in a statement, Ukrainian News Agency reports.

In the first nine months of 2018, the National Bank disposed of banknotes that were unsuitable for use in the amount of 496.4 million pieces for a total of UAH 34.216 billion.

This is less than in the corresponding period of 2017 in pieces by 18.4% and in the amount by 8.5% (in the first nine months of 2017, the National Bank disposed of unsuitable for circulation banknotes in the amount of 608.6 million pieces for a total of UAH 37.410 billion).

In 2018, it was utilized in denominations of banknotes: 1 hryvnia - 52.5 million pieces; 2 hryvnia - 30.7 million pieces; 5 hryvnia - 47.4 million pieces; 10 hryvnia - 59.9 million pieces; 20 hryvnia - 48.6 million pieces; 50 hryvnia - 84.1 million pieces; 100 hryvnia - 92.3 million pieces; 200 hryvnia - 72.1 million pieces; 500 hryvnia - 8.9 million pieces.

All banknotes that are in circulation for a long time, over time lose their original appearance, that is, got signs of wear.

Worn out and considerably worn out banknotes withdrawn from circulation by the National Bank shall be destroyed (utilized).

Disposal of banknotes occurs fully automatically in the regional offices of the National Bank and the Central Depository (Kyiv).

Banknotes are cut into small pieces, the crushed mass is collected in bags or fed into a special press that makes briquettes from the crushed mass.

It is impossible to recover a cut banknote.

That is, the process of destruction is the fine fraction grinding of banknotes, after which the crushed mass is disposed of in industrial solid waste landfills by specialized companies with which the National Bank has concluded relevant agreements.

As Ukrainian News Agency earlier reported, in July 2018, crushed hryvnia banknotes were found in bags with seals of the National Bank.

Considering the situation that occurred, the National Bank made a corresponding request to the company, which carries out the disposal in accordance with the contract, to clarify the circumstances of the incident.

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