17 July 2018
The National Bank of Ukraine (NBU) has presented
the 2018 design and improved security features of the 20-hryvnia banknote.
During the presentation, Director of the NBU
Cash Circulation Department Viktor Zaivenko
emphasized that hryvnia banknote’s redesign and security features improvement
by the NBU was aimed at enhancing the banknote’s reliability.
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 the banknotes.
The redesigned 20-hryvnia banknote will be
introduced into circulation on 25 September 2018.
The redesigned 20 hryvnia
banknote of the 2018 design is legal tender within Ukraine and shall be
accepted at its face value by all individuals and legal entities without any
limitation all over the territory of Ukraine.
“This is the third banknote in the new series of
the national currency’s denominations. The banknote comes as the NBU continues
to redesign the previous denominations under a redesign plan it launched in
2014 to improve the hryvnia’s reliability,” Viktor Zaivenko
According to him, the NBU primarily plans to
issue and put into circulation approximately five million of 20-hryvnia notes
to further distribute them among Ukrainian banks, which in turn will supply the
new banknotes to Ukrainians.
As of the beginning of July, the quantity of
20-hryvnia notes in circulation stood at nearly 127 million (some 4.4% of total
banknotes in circulation).
Viktor Zaivenko underscored
that 2003 and 2018 design banknotes will be in parallel circulation.
After the introduction of the new 20-hryvnia
banknote, the public will not need to exchange older designs for the new one.
The NBU will use the new banknotes to replace
the worn-out and damaged 20-hryvnia banknotes of the 2003 design.
“The NBU controls the withdrawal of worn-out
banknotes and replaces them with new ones. Replacing worn-out banknotes with
new ones is a continual process that does not inconvenience the public,” he
Overall, the NBU withdraws from circulation
about 800 million worn-out banknotes of all denominations every year. Nearly half of them are low-denomination banknotes
(1 to 10 hryvnias). Last year, for instance, the NBU withdrew a total of 749
million of worn-out and significantly worn-out banknotes worth UAH 48 billion,
including 72 million of 20-hryvnia banknotes worth close to UAH 1.5 billion.
This represents nearly 10% of the total amount of worn-out and significantly
worn-out banknotes withdrawn from circulation.
“When working on the creation of the new
banknote denominations, the NBU applied cutting-edge design and security
technologies. We have full confidence that Ukrainians will give the redesigned
20-hryvnia banknote a warm welcome and that they will like the new generation
of the national currency’s banknotes,” said Victor Zaivenko,
director of the Cash Circulation Department of the NBU.
The 20 hryvnia banknote
of the 2018 design mimics the design of the 100 and 500 hryvnia banknotes.
The new 20 banknote retains the core design
elements of the front and reverse sides of the 2003 design banknote. On the
front side, the note has Ivan Franko's portrait, which is not too different
from the portrait on the 20 hryvnia banknotes of the 2003 design, which is now
At the same time, Ivan Franko's portrait was
moved to the center of the banknote (previously, it was on the right side),
which corresponds to the placement of the portraits on the 100-hryvnia banknote
of the 2014 design and 500-hryvnia banknotes of the 2015 design.
The optically variable element is placed on the
right side of the portrait, as on the rest of the new banknotes. Also, the
image of the face value has been expanded, the mark for people with visual
impairments has been improved, and so on.
The image of the building of the Lviv Opera House remains on the reverse side.
The size of the new banknote will be the same as
that of the 20-hryvnia note of the 2003 design. The color of the new banknote,
like that of the previous one, is mostly green. Thus, the banknote paper is
also tinted in this color. The color and size of the banknote make it easily
distinguishable from other denominations, which helps users recognize the
denomination and make it impossible to counterfeit banknotes of small denominations
into those with large denominations by adding zeros.
The updated banknote contains the following
basic security features:
watermark - a portrait of Ivan Franko visible when the banknote is held up to
the light, which is a copy of the portrait printed on the front side of the
security thread - a polymer thread completely imbedded in the paper and
visible when the front of the banknote is held against the light (the tape is
shifted from the center of the banknote to improve the wear resistance of the
optically variable ink (OVI), with which a
stylized image of a flower on the front side of the banknote that changes color
when looking at a banknote from different angles from purple (crimson-purple)
to olive green;
improved ultraviolet protection;
changed and improved (on the reverse side)
a serial number of black color, printed in a
font with a variable height of the characters and placed vertically along the
right edge of the back of the banknote.