Small coins and hryvnia banknotes of the old pre-2003 design are being withdrawn from circulation. Is it true?

There is information circulating on social media suggesting that by the end of this month, banknotes with denominations of 1, 2, 5, 10, 20, 50, 100, and 200 hryvnias, which were issued prior to 2003, along with smaller coins, will cease to be considered legal tender. We decided to investigate whether this was true.

5 September 2023

TRUTH

A warning is making the rounds on social media, indicating that by the end of this month, 1, 2, 5, 10, 20, 50, 100, and 200 hryvnia banknotes from before 2003, as well as 1, 2, 5, and 25 kopiika coins, will transform into mere souvenirs.

Hurry up and exchange your currency!

I know what I’m reading	TRUTH

It’s true. Small coins and hryvnia banknotes of the design predating 2003 are being withdrawn from circulation. You’ll be able to exchange them until September 30, 2023, inclusive, but it won’t be possible to exchange these funds beyond this date.

The National Bank of Ukraine has assured that this move is intended to “enhance the security and quality of currency while simultaneously making cash transactions more convenient and efficient.”

Where to go?

The National Bank of Ukraine:
Kyiv: 2A Kontraktova Sq.;
Dnipro: 13 Voskresenska Str.;
Lviv: 4 Kopernyka Str.;
Odesa: 8 Rishelievska Str.;
Kharkiv: 1 Teatralna Sq.;
Khmelnytsky: 91 Volodymyrska St.

Authorized banks: Oschadbank JSC, PrivatBank JSC CB, Raiffeisen Bank JSC, and PUMB JSC. To find current information about the specific branches and outlets where you can conduct these exchanges, please consult the official websites of these banks.

The National Bank issues a reminder that “citizens will be able to exchange these coins and banknotes for other currency coins and banknotes currently in circulation in increments of 10 kopiiky (for exchangeable coins) without incurring any exchange fees.”