National Bank removes old 50 and 200 hryvnia banknotes: what Odesa residents need to know
The National Bank of Ukraine has begun gradually withdrawing banknotes with a denomination of 50 and 200 hryvnias, issued in 2003–2007, from circulation. Banks are no longer issuing these old banknotes, but residents of Odesa can continue to use them without restrictions. There is no requirement for compulsory exchange.
The National Bank of Ukraine began gradually withdrawing banknotes of denomination 50 and 200 hryvnias of the previous series, issued in 2003–2007, from circulation starting November 1, 2024. These banknotes will be replaced by new-generation banknotes with enhanced security features.
Banks no longer accept old banknotes during cash transactions, and the National Bank has stopped transferring them to banks, cash-handling companies, and businesses. Old banknotes that reach banks will be collected and transferred to the National Bank for processing and eventual disposal.
Despite the gradual withdrawal, banknotes with a denomination of 50 and 200 hryvnias of the old series remain a legal means of payment. This means that residents of Odesa can use them without restrictions in stores, pharmacies, public transport, and other establishments. There is no need to contact banks for mandatory exchange or to take any additional measures.
The National Bank explains that the gradual withdrawal of banknotes from circulation is part of the work to improve the quality of cash in Ukraine. The new generation of banknotes has a more modern and strengthened security system. After the replacement is complete, only banknotes of the current generation, with denominations of 50 and 200 hryvnias, will remain in circulation.