The National Bank of Ukraine is continuing the scheduled replacement of old-sample 50 and 200 hryvnia banknotes. The regulator emphasizes that this is not a sudden withdrawal of money from circulation: it is a gradual, pre-announced process of updating cash. The NBU announced the start of replacing 50 and 200 hryvnia banknotes of the 2003–2007 samples back in October 2024, and the process itself started on November 1 of the same year. The regulator calls the purpose of this work the optimization of cash circulation and improving the quality of banknotes.
How the replacement of 50 and 200 hryvnia bills is taking place
Old banknotes are gradually being replaced by bills of the same denominations from the 2014 sample. During this process, banks stopped issuing old banknotes from cash desks for all types of cash transactions, and the NBU stopped transferring them to banks, collection companies, and cash processing enterprises. When old-sample banknotes end up in banks, they are no longer returned to circulation — they are transferred to the National Bank for further disposal. This is a standard procedure for updating the money supply that central banks carry out regularly.
Do citizens need to specifically exchange money
The National Bank directly indicated that residents of the country do not need to specifically exchange old-sample 50 and 200 hryvnia banknotes. These bills remain a valid payment instrument, and they can be used without restrictions in everyday transactions. The regulator notes that replacing banknotes of previous years of issue is a normal planned process of updating cash, and not a reason for citizens to worry. Separately, the NBU recalled that starting March 2, 2026, 1, 2, 5, and 10 hryvnia banknotes of the 2003–2007 samples were withdrawn from circulation and are no longer a means of payment in cash settlements; coins of corresponding denominations are used instead. At the same time, such old paper bills can be exchanged free of charge for coins and banknotes of other denominations that remain in circulation.
Petition for small paper denominations and plans for 2000 hryvnias
Against the backdrop of the withdrawal of small paper bills, Ukrainians previously registered a petition to the government asking to return 1, 2, 5, and 10 hryvnia banknotes to circulation in parallel with coins. The author of the initiative explains this by the fact that metal money is heavy, takes up a lot of space, and can be inconvenient for elderly people and individuals with visual or motor impairments. Separately, the regulator revealed how it plans to use the new 2000 hryvnia banknote: according to the NBU, it will gradually replace worn and damaged bills of various denominations, and not just 1000 hryvnia banknotes. Thus, the updating of cash in Ukraine continues in several directions simultaneously — from replacing old series to introducing new large denominations.
