Banknotes of 1, 2, 5, and 10 hryvnias can be exchanged for coins indefinitely at the National Bank of Ukraine or for several years at other banks, reminds UNN.
Details
The NBU announced that from March 2, 2026, banknotes of 1, 2, 5, and 10 hryvnias of 2003-2007 series will be replaced by corresponding coins. The banknotes will be withdrawn from cash circulation and will accordingly cease to be means of payment. They will not be usable for cash payments.
The National Bank of Ukraine also notes that there will be enough time to exchange banknotes for coins. This can be done without restrictions and without commission indefinitely at the NBU itself, or within three years at authorized banks, including JSC "Oschadbank", JSC CB "PrivatBank", JSC "Raiffeisen Bank", JSC "PUMB"; the exchange will be possible until February 28, 2029, inclusive.
The reason for the changes is that these banknotes are now rarely encountered in retail trade, and their average lifespan is about 2.5 years.
Their gradual withdrawal by Ukrainian banks began back in 2020. The withdrawal of 1 and 2 hryvnia banknotes began on October 1, 2020, and 5 and 10 hryvnia banknotes on January 1, 2023.