Ukraine's Central Bank to Phase Out Old Hryvnia Notes: Which Bills Lose Value in 2026.

Withdrawal of Old Notes and Introduction of New Currency

According to Novyny.live: The National Bank of Ukraine (NBU) has announced it will withdraw older 1, 2, 5, and 10 hryvnia banknotes from circulation, specifically those issued between 2003 and 2007. These notes will cease to be legal tender starting March 2, 2026. This currency modernization is a common practice for central banks to enhance security and durability. In a related move, a new 200 hryvnia banknote featuring a patriotic inscription will enter circulation on February 25, 2026.

Ukrainian citizens will be able to exchange the invalidated notes at all financial institutions until February 26, 2027. Following that, an extended exchange period will be available until February 28, 2029, but only at specific authorized banks, including:

• PrivatBank
• Oschadbank
• Raiffeisen Bank
• PUMB

For anyone who misses these deadlines, the National Bank of Ukraine will provide an option for an indefinite, no-time-limit exchange.

The Ongoing Currency Renewal Process

The gradual phase-out of the 2003-2007 series hryvnia notes began approximately six years ago. For instance, the use of 1 and 2 hryvnia notes was restricted starting October 1, 2020, followed by restrictions on 5 and 10 hryvnia notes from January 1, 2023. These measures are part of a broader, multi-year initiative to modernize Ukraine's cash circulation, aimed at improving counterfeit protection and the overall quality of banknotes in use.

Therefore, Ukrainians are advised to take note of these changes in the monetary system and plan to exchange their old notes within the specified timeframes. The introduction of the new 200 hryvnia note is another significant step in reforming the country's monetary system. This ongoing renewal seeks to bolster public confidence in the national currency and improve its physical condition, which is crucial for Ukraine's economic stability during a challenging period.