The banknotes of the 2003-2007 samples will remain valid means of payment, but the banks will transfer them to the NBU for disposal. Experts explain this decision with a desire to avoid confusion in cash payments.
From January 1, the Ukrainian National Bank will gradually withdraw from circulation the old banknotes in denominations of 5, 10, 20 and 100 hryvnia of the 2003-2007 samples. Speaking of which informed press service of the regulator.
Instead of the old banknotes, 5 and 10 hryvnia coins from 2018 and updated 20 and 100 hryvnia banknotes will be in circulation.
As of January 1, Ukrainian banks will not issue old banknotes at the cash registers for all types of cash transactions, and the National Bank will no longer back up bank coffers with such banknotes.
The 2003 – 2007 money samples will remain valid means of payment, they can be calculated. If they enter the bank, they will not be put back into circulation, but will be transferred to the NBU for disposal.
The regulator explained this decision by improving the quality of cash in circulation and the depreciation of previous generation banknotes, as well as by improving cash settlement.
“For the National Bank, it is important that the Ukrainian national currency in circulation is reliable and of high quality. Ukrainians need to be sure that the money received in the commercial network, bank tellers or ATMs is truly a payment, safe and of quality “, reads the declaration. NBU.
A large number of banknotes of different designs of the same denomination in circulation, according to experts, will create confusion and extra time in cash payments.
Recall that the International Monetary Fund a sharp decline in the Ukrainian economy is expected – by the end of 2022 it will decrease by 35%. Russia, according to the same forecast, will lose only 3.4% in the economy.
This was announced by the European Union allocation of € 5 billion of macro-financial assistance to Ukraine until the end of 2022. On May 18, the European Commission proposed to provide Ukraine with up to € 9 billion in financial assistance.
