The NBU launched the redesigned 200-hryvnia bill into circulation on 25 February 2020. The new banknotes will gradually replace the old.
The upgrade comes as another step in an optimization of the hryvnia’s banknote and coin denominations that the NBU has been conducting since 2014. The optimization will be complete when the 10-hryvnia coin has been put into circulation in mid-2020.
The updated banknotes and coins will be more secure and counterfeit-proof, making cash payments more convenient and resulting in savings for the government.
The comprehensive redesign effort will eventually reduce the number of hryvnia banknote and coin denominations to 12, which is optimal for Ukraine. All in all, there will be 6 coin denominations (10 and 50 kopiikas and 1, 2, 5 and 10 hryvnias) and 6 banknote denominations (20, 50, 100, 200, 500, and 1 000 hryvnias).
How the NBU will replace old banknotes
The NBU will first launch about 5 million of the new 200-hryvnia banknotes. The central bank has already distributed the first batch of these banknotes between its regional units.
“The upgraded 200-hryvnia bills are now legal tender in Ukraine. They can be used freely for retail purchases or bank transactions,” said NBU Deputy Governor Sergii Kholod. “From now onward, the banks can receive the redesigned 200-hryvnia banknotes from the NBU and issue them to their customers.”
To customize their equipment, manufacturers of ATMs, banknote counters, and self-service machines will also be able to receive the new 200-hryvnia banknotes, starting today, from the banks or the NBU.
The central bank will replace the old banknotes in a way that prioritizes customer satisfaction. Individuals will not have to exchange old 200-hryvnia bills for new ones. The public will be able to use the new 200-hryvnia bills for an unlimited period of time alongside the banknotes designed in 2007.
More and more of the newly-designed 200-hryvnia bills will be gradually released into circulation as old banknotes go out of it due to natural wear and tear.
About the design of the new banknote
The redesigned 200-hryvnia bill retains the main images of the 2007 banknote. In particular, the new banknote features a portrait of Lesia Ukrainka at the front and an image of the Lutsk Castle’s entrance tower on the back. Ukrainka’s portrait has been moved from the right to the center of the banknote. The size of the new banknote – 75 mm by 148 mm – hasn’t changed. Light pink is the banknote’s predominant color.
“At the same time, we have significantly strengthened the 200-hryvnia bill’s security features. More specifically, the banknote now carries several new, modern security features that significantly minimize the risk of counterfeiting,” said Viktor Zaivenko, Director of the NBU Cash Circulation Department.
For instance, we have added an optically variable element known as SPARK, which gradually changes color from purple to golden green as you turn the banknote over in your hands.
Another important feature is the windowed security thread. This partially embedded polymer film contains a digital image of the banknote’s denomination and the hryvnia symbol. When viewed from a different angle, the banknote displays a kinetic effect in which the background image appears to move in an alternative direction.
Apart from that, raised printing elements are now rougher to the touch, as is the feature for the visually impaired. UV and infrared protection has been changed and improved. The digits in the serial number, which is positioned vertically along the right edge of the bill’s back, vary in size.
A video demonstrating the design and protection of the updated 200-hryvnia banknote, which was designed in 2019, is available on the NBU’s YouTube channel.
Photos of the redesigned banknote have been posted on the NBU’s Flickr account.
For more about the security features of the newly designed hryvnia bill, visit this thematic website.