Ukraine’s Central Bank Retires 1, 2, 5, and 10 Hryvnia Notes: Which Other Banknotes Will Cease to Be Legal Tender.

National Bank of Ukraine Removes Certain Hryvnia Banknotes from Circulation

According to Novyny.live: As of March 2026, the National Bank of Ukraine has declared multiple hryvnia denominations no longer valid for payments, removing them from active use. Only paper currency from the third and fourth generations remains officially accepted. This move is part of a broader effort to modernize the country’s cash system and strengthen financial stability.

According to official announcements, eight hryvnia denominations lost their legal tender status in 2026. The following banknotes have been withdrawn from circulation:

• 1 hryvnia (1992, 1994, 1995, 2004, and 2006 issues);
• 2 hryvnia (1992, 1995, 2001, and 2004 issues);
• 5 hryvnia (1992, 1994, 1997, 2001, and 2004 issues);
• 10 hryvnia (1992, 1994, 2000, 2004, and 2006 issues);
• 20 hryvnia (1992, 1995, and 2000 issues);
• 50 hryvnia (1992 issue);
• 100 hryvnia (1992 issue);
• 200 hryvnia (2001 issue).

Starting March 2, 2026, the central bank also pulled 1, 2, 5, and 10 hryvnia notes from the 2003–2007 series. In total, denominations of 1, 2, 5, 10, 20, 50, 100, and 200 hryvnia have been phased out. Additionally, several other banknotes may soon follow, including:

• 20 hryvnia (2003 issue);
• 50 hryvnia (2004 issue);
• 100 hryvnia (2005 issue);
• 200 hryvnia (2007 issue);
• 500 hryvnia (2006 issue).

Cash Circulation Overhaul Strategy

Retiring older banknotes is a key component of the National Bank of Ukraine’s policy to refresh the currency in circulation and enhance economic resilience. This process often reflects shifts in inflation trends and the broader financial landscape. Citizens are advised to stay informed about these changes to avoid complications when making cash transactions in the future.