The National Bank withdraws 50 and 200 hryvnia banknotes from circulation: what Ukrainians should do

The National Bank of Ukraine has begun the gradual withdrawal of old banknotes of 50 and 200 hryvnias. This only concerns banknotes of the 2003–2007 series, which will be replaced with modern currency. For citizens, this will happen without additional procedures. This is reported by Obozrevatel.

Banknotes of 50 and 200 hryvnias: how the replacement will take place

The NBU explains that the withdrawal of old banknotes will occur gradually during regular cash circulation.

Key details of the process:

• the replacement will occur without mandatory exchange

• old banknotes will be withdrawn through banks

• new series banknotes will enter circulation.

The regulator noted: 

“When entering banks, banknotes of 50 and 200 UAH of the old series will no longer return to circulation”.

Cash in Ukraine 2026: why the NBU is changing banknotes

The goal of this step is to update cash circulation and improve the quality of the national currency. After the process is completed, only modern generation banknotes will remain in circulation.

The NBU emphasizes that this:

• will improve the reliability of the hryvnia

• will simplify cash circulation

• will reduce the number of outdated banknotes.

At the same time, the regulator has previously withdrawn from circulation part of the paper money of smaller denominations. In particular, banknotes of 1, 2, 5, and 10 hryvnias of the old series are no longer means of payment and have been replaced with coins.

These changes are part of a long-term strategy for updating cash circulation, which has been ongoing in Ukraine for several years.

Let us remind you that the National Bank of Ukraine invites everyone interested to participate in the annual online workshop on monetary policy to be held on May 14, 2026. Participants have the opportunity to submit their research papers by April 19, 2026.