Ukraine to Issue New 2,000-Hryvnia Banknote

The National Bank of Ukraine has unveiled a new 2,000-hryvnia banknote, which will become the country's highest-denomination note. It will enter circulation on 4 September and is intended to facilitate cash payments at a time when the war is driving up inflation and disrupting the functioning of banks and electronic payments.

The blue banknote, featuring a portrait of Ukrainian poet and dissident Vasyl Stus, is currently worth approximately $45.

"The economy changes. Income levels, prices, the volume of cash in circulation, and people’s payment behavior all evolve", said Central Bank Governor Andriy Pyshnyi.

He emphasized that the war highlights how important it is to ensure people have access to cash, especially in areas near the front lines.

According to Pyshnyi, the new banknote will reduce logistical costs and streamline the movement of cash. Parliament Speaker Ruslan Stefanchuk noted that Vasyl Stus suffered under the Soviet regime for defending Ukrainian culture and rights. "This banknote is timely today as it is now when Ukraine is defending its identity", he added.

(Reuters, bak)