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” has been turned on in the country and whether to expect even larger denominations.
The NBU answered whether a 5,000 hryvnia banknote will be printed
Following the official announcement of the release of a new highest denomination banknote of 2,000 hryvnias, questions about the financial regulator’s next steps began to spread actively among Ukrainians. Citizens became very interested 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 in-depth analysis of economic factors. Specialists use special mathematical models, which leading central banks worldwide operate with. In response to the question 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, 2,000 hryvnias is the optimal highest denomination for our country,” the department emphasized, rejecting the idea of a five-thousand hryvnia banknote.
Why was there a pressing need for a two-thousand hryvnia banknote?
The main reason for this update was significant economic changes over the last seven years. Since the appearance of the 1,000 hryvnia banknote, the average salary of Ukrainians has tripled, and prices have doubled. While previously ten of the highest denomination banknotes were enough to pay an average salary, now over 30 such papers 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 in any way provoke an increase in inflation.
Innovative protection 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 exactly 20 years later, he tragically died in a Soviet camp.
The new money will be a real technological breakthrough in security and will have over 20 protection elements. It is the world’s first banknote to feature the unique AnimaTM Colour animated ribbon. Thanks to this polychrome detail, the image of the Tryzub will impressively transform into the hryvnia sign when the viewing angle changes.
It is worth noting that psychologically, the appearance of new money can have a depressing effect on the population, who may perceive it as a signal for price increases. However, experts assure that the appearance of the new 2,000 hryvnia banknote will not affect prices, as it will not increase the amount of money in circulation.
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Source: tsn.ua