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World Paper Money – Bank of Ukraine Issues New 500 Hryvnia Banknote

Ukraine 2015 series 500-hryvnia banknote

By National Bank of Ukraine ….
On Monday, April 11, the National Bank of Ukraine issued an updated 500 UAH banknote.

The National Bank of Ukraine’s Director of Circulation of Money Viktor Zayvenko emphasized that this bill continues to update the nation’s banknotes, on which work began in 2012 as part of the Strategic Programme to improve the organization of cash circulation in Ukraine between 2013 and 2018.

Zayvenko added that as of April 1, 2016, there were 243,500,000 of the older 500 UAH bank notes still in circulation.

“New banknotes will replace worn and damaged 500 UAH notes that remain in circulation. The 2006 and 2015 series banknotes will coexist in circulation simultaneously. Citizens are not required to exchange banknotes the older banknotes,” he said.

Ukraine 2015 series 500-hryvnia banknote, reverse

Zayvenko also recalled that the first banknote in the new series was the 100 UAH note from 2014, which was introduced into circulation on March 9, 2015.

“Now in Ukraine almost 300 million 100 UAH banknotes are in circulation. Gradually, the 2014 series banknotes of the 100 UAH denomination will replace the older issues,” he said.

The Director also drew attention to the fact that te 2014 100 UAH banknotes and 2015 500 UAH notes are valid means of payment throughout Ukraine and their acceptance in commerce is binding on all citizens within the Ukraine, without restriction.

Victor Zayvenko noted that the revised bill has enhanced security features, including optically-variable effects that are checked when tilting the banknote.

“This includes a window tape, partially embedded in the thick paper with a strong kinematic effect (a change in direction of the background image), and a SPARK element (an image that has some areas with a gradual transition from one color to another),” Zayvenko said. He expressed hope that Ukrainians will fully commit to the new generation of modernized national currency.

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