Ukraine's National Bank to withdraw 1, 2, 5, 10 hryvnia banknotes issued in 2003–2007 from circulation as of March 2
Banknotes in denominations of 1, 2, 5, and 10 hryvnias issued in 2003–2007 will be replaced by corresponding circulation coins as of March 2, 2026, and will no longer be legal tender, the National Bank of Ukraine (NBU) reported.
From that date, they may no longer be used for cash payments, and retail chains, service providers, banks, and financial institutions will not accept them for payments for goods and services or for payment transactions.
The NBU said that these banknotes may be exchanged for circulation coins and banknotes of other denominations without restrictions and free of charge: at all Ukrainian bank branches through February 26, 2027 inclusive; at authorized banks (Oschadbank, PrivatBank, Raiffeisen Bank, FUIB) through February 28, 2029 inclusive; and at the National Bank indefinitely.
"Banknotes of these denominations are currently almost never encountered in retail trade, and their average lifespan is about 2.5 years, so those still remaining in circulation are mostly worn out," the central bank explained.
The gradual withdrawal of 1 and 2 hryvnia banknotes by banks began on October 1, 2020, while 5 and 10 hryvnia notes began to be withdrawn on January 1, 2023. Meanwhile, the corresponding circulation coins have been in use since 2018–2020 and have a significantly longer service life – about 20–25 years.
According to the NBU, as of January 1, 2026, there were 2.6 billion banknotes in cash circulation totaling UAH 916.9 billion, as well as 15.2 billion circulation coins (excluding commemorative and investment coins) totaling UAH 9.3 billion. On average, each resident of Ukraine accounted for 64 banknotes and 193 payment and circulation coins as of that date.
