On 25th September, Ukraine officially started circulating new 20 hryvnia banknotes of 2018 design with better security features. The new note will be legal tender within Ukraine and will be used for all kinds of transactions. The older version of the 20 hryvnia banknote that was introduced in 2003, will continue to be in circulation.
The National Bank of Ukraine will be replacing damaged notes of the older version with the new ones. Officials stated that over 5 million pieces of the new 20 hryvnia banknotes have been distributed among regional units of NBU. These units will then distribute the new notes among other banks. A total of 60 million 20 hryvnia banknotes will be printed in 2018.
As per official reports, almost 125 million 20 hryvnia banknotes were in circulation in September 2018. This is equal to nearly 4.4 per cent of the total number of banknotes in circulation. The NBU replaces almost 800 million worn-out banknotes of all denominations every year. About 400 million out of these Notes have a denomination of 1 to 20 hryvnias. Almost 72 million pieces of 20 hryvnia banknotes in worn-out condition were replaced in 2017. This equalled almost 10% of the worn out notes that were replaced last year.
Image Courtesy: National Bank of Ukraine