NBU withdraws almost 750 mln worn-out banknotes in 2017

Director of the National Bank of Ukraine (NBU) Cash Circulation Department Viktor Zaivenko says the regulator in 2017 withdrew a total of 749 million of worn-out banknotes worth UAH 48 billion.

"The NBU controls the withdrawal of worn-out banknotes and replaces them with new ones. Replacing worn-out banknotes with new ones is a continual process that does not inconvenience the public," he said at the presentation of the 2018 design and improved security features of the 20-hryvnia banknote.

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According to the NBU, the majority of worn-out banknotes are those of low-denomination (1 to 10 hryvnias).

In particular, 72 million of 20-hryvnia banknotes worth close to UAH 1.5 billion were withdrawn last year.

As UNIAN reported earlier, the central bank had been introducing into circulation a banknote of UAH 20 denomination with an updated design and improved security features since September 25, 2018. This is the third banknote in a new series of the national currency, after updating the design of banknotes of UAH 100 and UAH 500 denominations.