Monetary reform: the banknotes of 5 and 10 hryvnia disappear from circulation

Денежная реформа: банкноты 5 и 10 гривен исчезнут из оборота

In the spring of 2018, the NBU announced the release of coins in denominations of 5 and 10 UAH in 2019-2020. Today, the national Bank said that this year Ukrainians can obtain only coin 5 UAH.

This was announced by the head of the NBU Yakov Smoliy, reports the Financial club.

“Coin series provides a gradual entry into circulation coins of 5 and 10 UAH. This year 5 hryvnia can be, and 10 UAH – definitely not, they will be in future periods,” – said Yakov Smoliy.

As reported by the national Bank in 2018-2020 will completely update a “coin number” of the hryvnia. In the past will go coins 1, 2, 5 and 25 cents, but the “metal” in the wallets of Ukrainians do not diminish, as current coin 1 UAH in the treatment of add coins 2, 5 and 10 UAH (see “the national Bank will hold a “monetization” Ukrainians”).

27 April 2018 in the cash turnover of new coins in nominal value 1 and 2 hryvnia. By June, the NBU released into circulation only 7 million UAH.

“Concerning coins 1 and 2 UAH, then, of course, their circulation longer than paper banknotes that wear out,” said Yakov Smoliy today.

Денежная реформа: банкноты 5 и 10 гривен исчезнут из оборота

The national Bank from 1 July 2018 ceased to mint coins in denominations of 1, 2, 5 and 25 cents. “The NBU has suspended the minting of coins of 1, 2, 5 and 25 cents. To replace the we introduce low denominations of banknotes, to reduce the maintenance costs of cash turnover. Since the production of coins and their turnover is much cheaper for the NBU than the production of banknotes that wear out and need updating, to release into circulation a new, disposal, collection,” said Yakov Smoliy.

NBU will auction the rolls of the hryvnia denominations from 1 to 10 UAH, but in free circulation new banknotes of these denominations will prevent.

“Banknotes of 1, 2, 5 and 10 hryvnia will be issued with the aim of filling collector’s sets. Each year we plan to produce these notes, but we will not release them into circulation”, – promised Yakov Smoliy.

Earlier, the NBU issued a commemorative coin of 5 hryvnia dedicated to Kiev.