The NBU explained why a thousand hryvnia bill is needed
The National Bank of Ukraine decided to introduce a 1000 hryvnia banknote, since the number of 500 UAH banknotes in circulation exceeded 50% of the total, a PolitNavigator correspondent reports.
This was stated by the head of the National Bank Yakov Smoliy, the regulator’s press service reports.
“When the number of high-denomination banknotes in circulation exceeds more than 50% of all major ones, then the need arises to introduce a banknote of higher denomination,” Smoliy noted.
According to him, the highest denomination banknote now - 500 UAH - was introduced in 2006. Since then, for 13 years, the NBU has not changed the banknote and coin series.
Smoliy also assured that the new one thousand hryvnia banknote, which will be put into circulation in Ukraine tomorrow, will have a high degree of security.
“The National Bank has not changed its banknote and coin line for six years. We did a lot of communication regarding protective elements. The 1000 UAH banknote continues the design of the denomination series, which we have been updating since 2014, and additional elements are also present there, since higher denominations have higher degrees of protection,” Smoliy noted.
According to him, the NBU wants consumers to perceive this banknote as a normal means of payment and use it in everyday life.
Let us remind you that from October 25, 2019, the National Bank will introduce into circulation a banknote of a new high denomination - 1000 hryvnia.
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