Counterfeit US Dollar Surge Hits Ukraine: What You Need to Know

Rising Threat of Fake Currency

According to ХВИЛЯ: Ukraine's central bank, the National Bank of Ukraine (NBU), has reported a sharp increase in counterfeit US dollars circulating within the country. In the first half of this year, the regulator identified a higher number of fake bills. According to NBU statistics, there are now 3.4 counterfeit notes for every one million genuine US dollars in circulation-a rise compared to the previous period. However, this figure remains below the pre-war level of 7.1 fakes per million authentic bills.

Among foreign currencies, the US dollar is the most frequently counterfeited. Criminals primarily target $100 bills. The highest risk of receiving a fake occurs when exchanging currency outside licensed exchange offices. Extra caution is advised when buying or selling money at informal points, especially near train stations and other transport hubs.

Security Features of $100 Bills

Two versions of $100 bills are currently in use in Ukraine: those issued before 2013 and newer, updated notes. The modernized versions include advanced security technologies. Financial institutions use specialized detectors for thorough verification. Meanwhile, the dollar's share in global reserves has dropped to a 30-year low, though the IMF continues to report reserves in dollar terms.

Despite this, holding savings in US dollars remains a safe option for Ukrainians. Economists predict the exchange rate could reach 42 hryvnias per dollar by year-end. It is worth noting that the NBU holds record gold and foreign currency reserves, and G7 countries are preparing a plan that could deprive the Kremlin of up to $80 billion annually.

To avoid counterfeit $100 bills, it is essential to know how to spot them. Key security features include:

• a watermark visible when held up to light;
• a holographic security thread (specific to updated designs);
• the 'bell in the inkwell' color-shifting effect, which changes with viewing angle (exclusive to post-2013 notes);
• high-quality, dense paper with noticeable raised printing;
• microprinting around the bill's edges.

The rise in counterfeit dollars in Ukraine serves as a warning for citizens to stay vigilant during currency transactions, especially in high-risk situations. Using modern verification tools and avoiding informal markets can significantly reduce the chance of accepting fake bills. Since the dollar remains a popular choice for saving, following NBU guidelines and knowing the security features of genuine notes is crucial.