Ukraine's Old Hryvnia Banknotes to Lose Legal Tender Status in 2026

Withdrawal of Old Banknotes

According to Главком: The National Bank of Ukraine (NBU) has announced that, starting March 2, 2026, 1, 2, 5, and 10 hryvnia banknotes issued between 2003 and 2007 will no longer be valid for payments. These notes will cease to be accepted for transactions in retail stores, service providers, banks, and other financial institutions. The average lifespan of these specific denominations is approximately 2.5 years, and their gradual withdrawal from circulation began back in 2020. This currency update is part of a broader effort to modernize Ukraine's financial infrastructure.

Exchanging Old Banknotes

Citizens can exchange these old notes free of charge at any Ukrainian bank branch for one year after the withdrawal date, until February 26, 2027. Additionally, a no-fee exchange will be available for three years (until February 28, 2029) at specific banks, including:

• Oschadbank
• PrivatBank
• Raiffeisen Bank
• PUMB

The National Bank of Ukraine will also offer a commission-free exchange at its own branches indefinitely.

In a separate initiative, the NBU plans to issue a commemorative 100 hryvnia gold coin named 'To the 35th Anniversary of Ukraine's Independence'. This coin will be part of the 'Ukrainian State' series, with an expected mintage of up to 1,000 pieces, and will be minted from 900 fine gold.

“They will no longer be usable for cash payments,” stated the National Bank of Ukraine.

The withdrawal of the old banknotes forms a key part of the NBU's strategy to modernize Ukraine's monetary system and enhance market stability. Citizens are advised to note the exchange deadlines to avoid potential inconvenience. The issuance of the new commemorative coin further reflects the central bank's aim to highlight significant national historical events and symbolism, while also catering to the numismatic market.