Change in consumer preferences in cash circulation
In Ukraine, there is a decline in the use of the 200 hryvnia banknote, while the popularity of the 500 hryvnia note is growing. The demand for 200-hryvnia banknotes is steadily decreasing, indicating a shift in consumer preferences. Although the 200-hryvnia banknote is losing its position in cash circulation, old banknotes remain a valid means of payment.
Withdrawal of small coins from circulation
Furthermore, the withdrawal of small coins from circulation continues. Coins in denominations of 1, 2, 5, and 25 kopecks have already been phased out of transactions, and there are plans for the gradual withdrawal of the 1 hryvnia coin. These changes in cash circulation indicate the adaptation of the financial system to the modern needs of the population.
Changes in cash circulation may be related to global trends in the financial sector, particularly the shift towards cashless transactions and the growing popularity of electronic payment systems. The decrease in the use of certain banknotes and coins may indicate changes in consumer behavior and their preferences in selecting means of payment. This may also impact the policy of the National Bank of Ukraine regarding the issuance and management of money supply in the country.