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Economy 2019-11-15T04:16:11+02:00
Ukrainian news
NBU Cuts Banknote Utilization By 6.4% To 263.6 Million Pieces In 5M

NBU Cuts Banknote Utilization By 6.4% To 263.6 Million Pieces In 5M

NBU, hryvnia, utilization, banknotes, banknotes utilization

In the first five months of 2019, the National Bank of Ukraine (NBU) reduced banknote utilization by 6.4% to 263.6 million pieces.

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

At the same time, in monetary terms, the amount of utilized hryvnia increased by 13.8% to UAH 23.1 billion.

For the first five months of 2019, the National Bank of Ukraine utilized 263.6 million banknotes not suitable for circulation for a total of UAH 23.1 billion, including by nominal value: UAH 1 - 18.9 million pieces for a total of UAH 18.9 million, UAH 2 - 11.4 million pieces for a total of UAH 22.7 million, UAH 5 - 20.2 million pieces for a total of UAH 101.2 million, UAH 10 - 29.0 million pieces for a total of UAH 290.1​​million, UAH 20 - 23.6 million pieces for a total of UAH 471.5 million, UAH 50 - 47.2 million pieces for a total of UAH 2,362.1 million, UAH 100 - 51.5 million pieces for a total of UAH 5,149.2 million, UAH 200 - 54.1 million pieces for a total of UAH 10,830.9 million, UAH 500 - 7.7 million pieces for a total of UAH 3,839.1 million.

Worn out and considerably worn out banknotes withdrawn from circulation by the National Bank are subject to destruction (utilization).

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

As Ukrainian News Agency earlier reported, in 2018 the NBU utilized 663 million banknotes for UAH 47.4 billion.

This is by 16.7% less in quantity and by 6.2% less in total than in 2017 (795.7 million banknotes for UAH 50,576.7 million).

In particular, in 2018, the NBU disposed of 63.4 million one-hryvnia banknotes for UAH 63.4 million; 38.6 million two-hryvnia banknotes for UAH 77.2 million; 61.9 million five-hryvnia banknotes for UAH 309.4 million; 79.5 million 10-hryvnia banknotes for UAH 795.4 million; 66 million 20-hryvnia banknotes for UAH 1,320.8 million; 115.7 million 50-hryvnia banknotes for UAH 5,784.7 million; 122.7 million 100-hryvnia banknotes for UAH 12,266.6 million, 102.7 million 200-hryvnia banknotes for UAH 20,537.3 million; and 12.5 million 500-hryvnia banknotes for UAH 6,265.2 million.

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