02 March 2020, Monday, 17:59 504

NBU Disposes Of 702.4 Million Pieces Of Banknotes For UAH 68.1 Billion In 2019

Редактор: Daria Zubkova

In 2019, the National Bank disposed of 702.4 million pieces of banknotes worth UAH 68.1 billion.

The NBU’s press service has informed the Ukrainian News Agency.

In total, due to the physical wear of hryvnia banknotes, the National Bank annually withdraws about 700 million pieces of banknotes of all denominations, which is about a quarter of the total number of banknotes in circulation.

So over the past three years, statistics indicate the following.

In 2019, 702.4 million pieces of banknotes were disposed (almost 24.0% of the total number of banknotes in circulation) for a total amount of UAH 68.1 billion (within 16% of the total cash in circulation).

In 2018, 663.0 million pieces were disposed (22.5% of the total number of banknotes in circulation) for a total of UAH 47.4 billion (within 12% of the total amount of cash in circulation).

In 2017, 795.7 million pieces (26.7% of the total number of banknotes in circulation) were disposed for a total amount of UAH 50.6 billion (within 14% of the total cash in circulation).

In particular, in 2019, the National Bank disposed of banknotes not suitable for circulation in terms of denominations:

UAH 1 - 45.7 million units for UAH 45.7 million,
UAH 2 - 27.8 million units for UAH 55.6 million,
UAH 5 - 56.3 million units for UAH 281.4 million,
UAH 10 - 72.0 million units for UAH 719.7 million,
UAH 20 - 59.3 million units for UAH 1,187.3 million,
UAH 50 - 106.6 million units for UAH 5,328.3 million,
UAH 100 - 143.2 million units for UAH 14,316.6 million,
UAH 200 - 165.5 million units for UAH 33,097.6 million,
UAH 500 - 26.0 million units for UAH 13,019.5 million.

As Ukrainian News Agency earlier reported, worn out and significantly worn out banknotes withdrawn from circulation by the National Bank are subject to destruction (disposal).

Disposal of banknotes takes place completely automatically in the regional divisions of the National Bank and the Central Vault (Kyiv).

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

It is impossible to recover a cut banknote.

That is, the destruction process is a fine factional grinding of banknotes, after which the ground mass is disposed at specialized industrial waste landfills by specialized companies with which the National Bank has concluded relevant agreements.

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