On 11 April 2016, the National Bank of Ukraine will put the revamped 2015 design 500 hryvnia bill with enhanced security features into circulation.
The new banknote retains the same dimensions as those of the previously issued banknote with the same face value. The color of the banknote remains almost unchanged. The design of the banknote and its security features have undergone major changes. For instance, the portrait of Hryhorii Skovoroda, which has changed little, has been shifted to the left side of the banknote.
The banknote has enhanced security features that meet high international standards. The banknote has upgraded optically variable security features that are identified when the banknote is viewed at different angles. These security features include the following:
- Window security thread (partially incorporated into the banknote paper) with the pronounced kinematic effect. When the banknote is tilted, the background image moves in the opposite direction;
- SPARK element is the optically-variable image of a painter palette with the kinematic effect. When the banknote is tilted, some areas of the image will gradually change its color.
The new 2015 design 500 hryvnia bill will be put into circulation as part of the 2016 plan.
The upgraded banknotes will replace the worn-out and damaged 2006 design 500 hryvnia banknotes that are currently in circulation.
There is no need for citizens to exchange the 2006 design 500 hryvnia banknotes into new ones.
The 2015 and 2006 design 500 hryvnia banknotes will be in parallel circulation.
As a side note, in 2012 the NBU launched a project to revamp the design of the banknote series designed between 2003 and 2007 as part of the 2013-2018 Strategic Program of Cash Circulation Improvement.
The first to be upgraded was the 2014 design 100 hryvnia banknote, which was put into circulation on 9 March 2015.