NBU will get rid of 'unnecessary' banknotes: which denominations are being withdrawn from circulation.

Increase in the volume of cash in circulation in Ukraine

The National Bank of Ukraine reported that the volume of cash in circulation in the country increased by 7.6% in 2024. According to the NBU, as of January 1, 2025, the total amount of cash in circulation was 822.4 billion hryvnias, which is 58 billion hryvnias more than a year ago.

There are 2.6 billion banknotes in cash circulation worth 814.3 billion hryvnias and 14.8 billion coins worth 7.96 billion hryvnias, not counting commemorative and investment coins.

Statistics show that on average 63 banknotes and 186 coins are available for each Ukrainian. The most popular banknote in circulation is the 500-hryvnia bill, which accounts for 27.3% of the total number of banknotes.

A significant number of coins with a nominal value of 5 and 10 hryvnias have been recorded, as they replace the corresponding banknotes. It has also been noted that the number of banknotes with a nominal value of 10 and 5 hryvnias has decreased due to their replacement with coins.

Changes in currency restrictions and reserves of Ukraine

Starting from December 21, 2024, the National Bank has eased currency restrictions, allowing transactions with banking metals and expanding opportunities for nuclear facility operators to purchase foreign currency.

Ukraine's international reserves have also increased by 8% as of January 1, 2025, and the NBU's discount rate is expected to be approximately 12% by the end of 2025.

In addition, the National Bank plans to conduct open testing of the electronic hryvnia - Ukraine's analogue of central bank digital currency.