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Will there be a 5,000-hryvnia banknote in Ukraine: what the NBU has to say about high-denomination notes

Will there be a 5,000-hryvnia banknote in Ukraine: what the NBU has to say about high-denomination notes

15 July 2026, 13:00

Will there be a 5,000-hryvnia banknote in Ukraine: what the NBU has to say about high-denomination notes — У вересні в обігу буде купюра в 2000 гривень

Following the National Bank’s unveiling of the new 2,000-hryvnia banknote, questions began to circulate amongst Ukrainians as to whether an even higher denomination – 5,000 hryvnias – might be on the cards.

What criteria does the NBU use when expanding its banknote series, and why was this particular denomination chosen for the new ‘highest-value’ note? Read about it in this article from ThePublic.

The National Bank of Ukraine has explained the reasons for putting the new 2,000-hryvnia banknote into circulation. The NBU emphasises that the range of banknotes is not static and must adapt to changes in the economy.

Economic reasons

The decision to introduce the new denomination is based on a combination of factors:

Rising prices and incomes: In the seven years since the 1,000-hryvnia note was introduced, the average monthly salary has tripled, whilst the price level has doubled. Whereas previously it took 10 1,000-hryvnia notes to receive the average salary in cash, it now takes more than 30.
Increase in the volume of cash: Since 2019, the amount of cash in circulation has more than doubled – from 390 billion to over 970 billion hryvnias. This was driven, in particular, by wartime needs.
Circulation structure: The share of 1,000-hryvnia notes by value has already exceeded 55 per cent. International practice suggests that this is a signal to introduce a higher denomination.

Configuration of ATMs and payment terminals

To ensure that ATMs and payment terminals can correctly recognise, accept and dispense the new banknote, they need to be technically reconfigured.

The National Bank will provide banks and cash-in-transit companies with free technical assistance so that they can prepare their equipment in good time to handle the new banknote.

Why 2,000 hryvnias and not 5,000?

The National Bank of Ukraine analyses the economic situation and the experience of other countries when deciding which banknotes to put into circulation. At this stage, NBU experts have concluded that 2,000 hryvnias is the optimal highest denomination for the Ukrainian economy.

As a reminder, the NBU previously announced the expansion of its banknote series and the introduction of a new 2,000-hryvnia note. It will enter circulation on 4 September 2026

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