The regulator’s sudden decision to issue money of a much higher denomination has sparked a wave of concern among Ukrainians, forcing officials to urgently explain whether the “printing press” is turned on in the country and whether to expect the appearance of even larger denomination banknotes.
The NBU answered whether a 5,000 hryvnia banknote will be printed.
After the official announcement of the release of a new highest denomination banknote of 2,000 hryvnias, questions about the financial regulator’s further steps began to actively spread among Ukrainians. Citizens became very interested in whether the next stage of the reform would be the appearance of even larger banknotes in wallets – for example, a denomination of 5,000 hryvnias.
This was reported by the press service of the National Bank of Ukraine, which provided an answer to the public’s main concerns.
Should we expect 5,000 hryvnias?
The National Bank explained that decisions on introducing new denominations are made not spontaneously, but based on a deep analysis of economic factors. Specialists use special mathematical models, which are used by leading central banks worldwide. In response to questions about the possibility of introducing a 5,000 hryvnia banknote, the regulator clarified everything.
“When considering the introduction of higher denomination banknotes, the National Bank primarily takes into account economic factors and models. Currently, the optimal highest denomination for our country is 2,000 hryvnias,” the agency emphasized, rejecting the idea of a five-thousand hryvnia note.
Why the urgent need for a two-thousand hryvnia note?
The main reason for this update was significant economic changes over the past seven years. Since the appearance of the 1,000 hryvnia banknote, the average salary of Ukrainians has tripled, and prices have doubled. If previously ten highest denomination banknotes were sufficient to pay an average salary, now more than 30 such notes are needed.
Furthermore, due to the war, the volume of cash in circulation has more than doubled, exceeding 970 billion hryvnias. At the same time, the NBU reassures: the issuance of new money does not mean turning on the “printing press.” New banknotes will only replace worn-out ones, so this will not cause inflation to rise in any way.
Innovative security and historical symbolism
Officially, the 2,000 hryvnia banknote will enter circulation from September 4, 2026. It will feature the prominent Ukrainian dissident poet Vasyl Stus. The date itself has deep historical symbolism, as it was on this day that the poet held his first public protest, and tragically died in a Soviet labor camp exactly 20 years later.
The new money will be a real technological breakthrough in security and will have over 20 security features. This is the world’s first banknote to feature the unique AnimaTM Colour animated ribbon. Thanks to this polychrome detail, when the angle of inclination changes, the image of the Tryzub will spectacularly transform into the hryvnia sign.
Recall that psychologically, the appearance of new money may have a depressing effect on the population, who will perceive it as a signal of rising prices. However, experts assure that the appearance of a new 2,000 hryvnia banknote will not affect prices, as it will not increase the amount of money in circulation.
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