Today, the National Bank of Ukraine has presented tthe revamped, 2015 design 500 hryvnia bill with enhanced security features, which entered circulation on 11 April 2016.
Director of the NBU Cash Circulation Department Mr Viktor Zaivenko said that the entry into circulation of the new banknotes marks the continued efforts by the NBU 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.
He added that as of 1 April 2016 there were 243.5 million million pieces of 500 hryvnia banknotes in circulation.
“The new 500 hryvnia banknotes will replace the worn-out and damaged 2006 design banknotes that are currently in circulation. The 2006 and 2015 design banknotes will be in parallel circulation. Following the entry into circulation of the new 500 hryvnia banknotes, there will be no need for citizens to exchange the banknotes from 2006 for the new ones,” said Mr Zaivenko.
He also reminded that the first to be upgraded was the 2014 design 100 hryvnia banknote, which was put into circulation on 9 March 2015.
There is currently over UAH 300 million worth of 2014 design 100 hryvnia banknotes in circulation. The new 100 hryvnia banknotes will gradually replace the old ones. Thus, there will be more 2014 design 100 hryvnia banknotes in circulation,” said Mr Zaivenko.
The Director of the NBU Cash Circulation Department drew the attendees' attention to the fact that the 2015 design 500 hryvnia banknote is a legal tender in the territory of Ukraine and shall be accepted at its face value by all natural persons and legal entities without any limitation throughout the entire territory of Ukraine.
Mr Zaivenko pointed out that the upgraded banknotes have enhanced security features. The new optically variable security features that are identified when the banknote is viewed at different angles have been incorporated into the banknote design.
The enhanced 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,” Mr Zaivenko said, adding that he hopes that Ukrainians will like the upgraded banknotes.