Ivan Franko symbolizes the unity of Ukrainians, and arduous hard work. Throughout his life, Franko made a concerted effort to unite Ukrainians. His slogan “We must learn to feel that we are Ukrainians – not Ukrainians from Galicia (Halychyna) or Bukovyna, but rather Ukrainian without any social boundaries...” is especially relevant today.
Ivan Franko was a legend in his own lifetime. He came to be called a titan of work. He was a prolific writer who, at a rough estimate, produced over 100 volumes.
Franko also translated from multiple languages, and was a public and political figure. Together with Mykhailo Hrushevsky, he made the Lviv Shevchenko Scientific Society into a sort of unofficial academy of sciences in Ukraine.
Oh Mother Earth, all of life the creator,
Some of the strength that is stored in your deep
So that in battle my staunchness be greater
Give unto me!
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When will new 20 hryvnia banknotes come
into circulation?
The new 20 hryvnia banknotes will be introduced into circulation on 25 September 2018.
Will the old 20 hryvnia banknotes be
withdrawn from circulation?
No, the 2003 and 2018 design banknotes will remain in parallel circulation. When the new 20 hryvnia banknotes are introduced, citizens won’t have to exchange the old banknotes for the new ones.
The National Bank of Ukraine (NBU) will replace worn-out and damaged 20 hryvnia banknotes of 2003 design with the new ones. Due to the replacement of the worn-out banknotes, more new 20 hryvnia banknotes will gradually come into circulation.
How exactly has the banknote changed?
It mimics the design of updated 100 and 500 hryvnia banknotes. Main images of the 20 hryvnia banknote of 2003 design have been preserved on the new one. In particular, the portrait of Ivan Franko is depicted on the front side, and the building of the Lviv Opera House remains on the reverse side. Ivan Franko’s portrait was moved to the banknote’s center (previously, it was on the right side). The size of the new banknote hasn’t changed, remaining 69х130 mm. The color scheme is the same.
Is the introduction of the new banknotes
related to the large number of counterfeits?
The NBU aims at enhancing the reliability of Ukrainian banknotes. Under international standards, banknotes and coins are to be redesigned at certain time intervals in order to minimize or completely prevent fraudsters’ attempts to counterfeit them. Security features of hryvnia banknotes are of high level, standing next to the security features of the world’s leading currencies. Meanwhile, the volume of withdrawn counterfeit national currency banknotes is consistently low. For example, only 126 counterfeit 20 hryvnia banknotes were withdrawn from circulation in 2017.
If the main reason for updating the
banknote series is the improvement of security features, does this mean that the 20 hryvnia
banknotes of 2003 design have a poor protection?
Ukrainian money of all years of issue are well secured. However, the NBU works on the improvement of the banknotes’ security features due to the technological development.
Security features of the new 20 hryvnia banknote are improved compared with the 2003 design. In particular, it has better embossed elements, including the one for people with visual impairments. UV and IR protection has been changed and improved. The serial number is printed in black color and font with a variable height of characters and placed vertically along the right edge of the reverse side of the banknote.
How many worn-out 20 hryvnia banknotes
did the NBU withdraw in 2017 and 2018?
The exchange of the worn-out banknotes for the new ones is an ongoing process. Overall, the NBU annually withdraws from circulation about 800 million worn-out banknotes of all denominations. Nearly half of them are low-denomination banknotes (1 to 20 hryvnias).
In 2017, the NBU disposed of 72 million unsuitable for circulation 20 hryvnia banknotes worth a total of UAH 1.5 billion. This is almost 10% of the total number of worn-out banknotes withdrawn from circulation.
How many 20 hryvnia banknotes are now in
circulation?
As of 1 July 2018, the number of 20 hryvnia banknotes in circulation stood at nearly 127 million pieces (some 4.4% of the total number of banknotes in circulation).
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