Key points
- From 2 March 2026, 1, 2, 5 and 10 UAH banknotes issued in 2003–2007 will be withdrawn from circulation.
- They will be replaced by circulating coins of the corresponding denominations.
- Exchanges at banks will be available until 26 February 2027, and at authorised banks until 28 February 2029.
- The National Bank will exchange them for an unlimited period.
- Coins have a significantly longer lifespan than paper banknotes.
From 2 March 2026, 1, 2, 5 and 10 UAH banknotes issued in 2003–2007 will cease to be legal tender. They will be replaced by circulating coins of the corresponding denominations, which have already been used in cash transactions for several years.
From that date, these banknotes will be withdrawn from cash circulation. It will no longer be possible to use them for payments in shops, service establishments or financial institutions. Banks, retail chains and other businesses will not accept them for transactions.
Citizens will be able to exchange the banknotes without restrictions for coins or other banknotes currently in circulation.
At all bank branches in Ukraine, exchanges will be available for one year, until 26 February 2027 inclusive. At authorised banks – including Oschadbank, PrivatBank, Raiffeisen Bank and PUMB – exchanges will continue for three years, until 28 February 2029.
At the National Bank of Ukraine, exchanges will remain available indefinitely. No fee will be charged for the exchange.
According to the National Bank of Ukraine, small-denomination banknotes are rarely used in retail trade. Their average lifespan is about 2.5 years, after which they become worn. By contrast, circulating coins remain in use for 20 to 25 years, making them more cost-effective for the state and the financial system.
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