Ukraine to Phase Out Low-Denomination Hryvnia Banknotes: Exchange Details and Deadlines.

Changes to Ukraine's Banknote Circulation

According to TSN.ua: Starting March 2, 2026, Ukrainian banknotes in denominations of 1, 2, 5, and 10 hryvnias, issued between 2003 and 2007, will no longer be legal tender. This move is part of a broader, multi-year effort by the National Bank of Ukraine to modernize the nation's currency. Citizens will have until February 26, 2027, to exchange these old notes for new ones, a process that has been gradually implemented to help the public adapt.

Valid Currency and Notes Being Withdrawn

As of March 2026, banknotes of 20, 50, 100, 200, 500, and 1,000 hryvnias will remain in full legal use. The National Bank is replacing the outdated notes with coins and new banknotes featuring modern security elements. It's important to clarify that the term 'series' refers to the design of the banknote, not its specific year of printing, a distinction emphasized by the central bank.

The specific banknotes being withdrawn from circulation are:

• 1 hryvnia - blue and yellow in color
• 2 hryvnias - brown
• 5 hryvnias - blue
• 10 hryvnias - red

Printing of these notes ceased in different years: the 1-hryvnia note was last printed in 2015, the 2-hryvnia in 2014, and the 5- and 10-hryvnia notes in 2018. Citizens should note these dates to ensure they exchange their old currency before the final deadline.

This withdrawal of obsolete banknotes is a key step in modernizing the country's monetary system and ensuring a higher standard of security for financial transactions. Replacing old notes with new ones helps reduce the risk of counterfeiting and strengthens public confidence in the national currency. For context, similar currency updates are common globally to combat fraud and improve cash handling efficiency. Being aware of the exchange deadlines is crucial for the public to avoid future financial inconvenience.