The old-style 500 hryvnia banknotes will gradually be replaced in circulation by more modern and secure ones.
From August 1, the National Bank of Ukraine will begin withdrawing the old-style 500 hryvnia banknote from circulation. This applies to banknotes from 2003-2007. This was reported by the press service of the NBU.
They will gradually be replaced by banknotes of the modern generation (sample 2014 and subsequent years of issue).
“Citizens can continue to pay them without restrictions; they do not need to be specially exchanged,” said the National Bank.
The regulator explained that the main purpose of this decision is to improve the quality of cash in circulation.
Starting August 1, 2024, the NBU, together with banks, will gradually withdraw specified banknotes from currency circulation, namely:
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Banks in Ukraine will not issue such banknotes from cash registers for all types of monetary transactions;
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The NBU will stop supporting bank cash registers with these banknotes.
Once in the banks, the old-style 500 hryvnia banknotes will not be returned to circulation, but will be withdrawn from circulation and transferred to the National Bank for further transfer and disposal.
The NBU added that the replacement of old-style 500 hryvnia banknotes with modern ones, with an improved security system, will not affect citizens’ cash payments, they do not need to take additional steps for exchange .
We remind you that earlier the National Bank asked Ukrainians to be careful during currency transactions and warned about the danger of receiving fake dollars.
As reported, Ukraine extended the period for the exchange of small denomination coins and old-style hryvnia banknotes, introduced into circulation before 2003, which were withdrawn from circulation and ceased to be a means of payment.
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Source: korrespondent
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