From November 1 The National Bank of Ukraine will begin gradually replacing old-style banknotes with denominations of 50 and 200 hryvnias of the 2003-2007 models.
This was reported by URA-Inform with reference to the NBU.
They will be replaced by banknotes of similar denominations of the current generation of the 2014 model and subsequent years of issue. According to the press service of the NBU, citizens do not need to exchange them specially. Ukrainians will have the opportunity to continue to pay with old-style banknotes without restrictions, because they will remain valid means of payment.
The gradual replacement will take place as follows:
— banks will not issue such banknotes from cash desks for all types of cash transactions;
— The National Bank will stop issuing these banknotes to banks, collection companies and cash processing companies.
«Once in banks, old-style 50 and 200 hryvnia banknotes will no longer be returned to circulation, but will be withdrawn and transferred to the National Bank for their subsequent transfer and disposal,» the National Bank noted.
The NBU adds that the replacement of old banknotes is being carried out in order to improve the quality of cash in circulation. So far, the regulator has been consistently replacing all banknotes of previous years in circulation with more modern and secure ones. Consequently, the replacement of old-style 50 and 200 hryvnia banknotes will complete this process.
«As a result, the hryvnia banknote and coin series will contain only modern-generation banknotes. This will enhance the quality and reliability of the national currency in circulation,” the NBU added.
Recall that it was previously reported that Ukrainians will not be able to top up someone else's card through a terminal: changes from the National Bank.