Exchange of old dollars: which banknotes will no longer be accepted in Ukraine

Many Ukrainians keep savings in US currency, but not everyone knows what to do with old banknotes.

All banknotes of the Federal Reserve System of the USA issued after 1914 remain valid. This means that even very old banknotes are officially recognized as a means of payment.

Banknotes from 1996 and earlier are often characterized as 'obsolete', but this does not affect their legal status. Such dollars can be used in transactions or exchanged for new samples.

Exchange rules according to the National Bank

In 2023, the NBU simplified the classification of banknotes by abolishing the category 'slightly worn'. Now there is only the concept of 'significantly worn banknote', which facilitates the identification of the currency's condition.

Banks are prohibited from refusing customers the exchange of foreign currency if it meets the official samples of foreign central banks and is confirmed by special equipment.

Free exchange vs paid collection

If the banknote is genuine, meets the parameters, and is in normal condition, the exchange is performed free of charge at any bank.

For worn or damaged dollars, a collection procedure is applied, which is paid and can be quite expensive.

According to NBU statistics, the hundred-dollar banknote is most often counterfeited. If you suspect a counterfeit, it is better to contact law enforcement for an examination.

Tips for exchanging banknotes

Check the condition of the currency before traveling abroad, exchange dollars gradually, store them properly, and use only official exchange channels.

The submitted news about the process of exchanging old dollar banknotes issued by the Federal Reserve System of the USA after 1914 emphasizes that very old banknotes remain legal means of payment. It also provides information about simplifying the classification rules of banknotes by the NBU and reminds about the importance of checking currency and exchanging only through official channels.