Cash in Circulation Drops: What the Removal of Old Banknotes Means

Ukraine's Cash Circulation Landscape as of April 1, 2026

According to НБУ: By April 1, 2026, the total volume of cash circulating in Ukraine had fallen by 0.3% (3.1 billion UAH), reaching 923.2 billion UAH. This includes 2.6 billion banknotes worth 913.4 billion UAH and 15.2 billion coins (excluding commemorative and investment pieces) totaling 9.6 billion UAH. A slight decline in cash has been observed since the start of 2026, potentially signaling shifts in how the population handles payments.

As of April 1, 2026, each Ukrainian resident averaged 63 banknotes and 195 coins. For comparison, on January 1, 2026, those figures stood at 64 banknotes and 193 coins per person. This indicates a minor reduction in the average number of banknotes and coins held by citizens.

Breakdown of Banknotes and Coins in Circulation

The most common banknote in circulation is the 500 UAH denomination, accounting for 25.5% of all banknotes. In contrast, the 50 UAH note is the least prevalent, making up just 4.7% of the total. Among coins, the 1 UAH coin leads with 4.7% of all circulating coins, while the 10 UAH coin is the rarest at only 2.4%.

Starting March 2, 2026, banknotes of 1, 2, 5, and 10 UAH (2003-2007 series) ceased to be accepted as legal tender. This move is part of a broader effort to modernize Ukraine's currency system. Earlier, on October 1, 2025, a gradual withdrawal of 10-kopiyka coins began. By April 1, 2026, 4.8 million units of these coins had been removed, representing 27.1% of all coins in circulation. As of the same date, 50-kopiyka coins made up 9.1% of the total coin supply.

These changes to the cash supply reflect a steady overhaul of Ukraine's monetary system and may influence how people manage their finances. For detailed data on cash circulation, the National Bank of Ukraine's official website is the recommended source.

A reduction in circulating cash often points to evolving economic habits, such as a growing preference for cashless payments. Modernizing the currency by phasing out old notes and coins is a key step in upgrading the country's financial infrastructure.

This shift could help streamline cash management and boost financial literacy among the public.

As Ukraine continues to modernize its currency system, it's important to note the implications of phasing out older banknotes. This shift not only affects cash circulation but also prompts citizens to rethink their payment methods. For more insights on the transition away from outdated banknotes, you can read about the Central Bank's plans regarding the withdrawal of the 50 and 200 Hryvnia notes here.