REUTERS
The National Bank of Ukraine (NBU) says it will be able to announce the introduction of a new denomination of Ukraine's hryvnia banknotes only after the NBU Board has taken a relevant decision, as the information is a state secret, according to the NBU's press service.
"The NBU is constantly working to optimize the denomination range of banknotes, carefully examining the needs of society and the economy for the adequacy of certain banknotes," the press service told UNIAN commenting on media reports that the Central Bank allegedly plans to issue a banknote whose face value is UAH 1,000.
Read alsoNBU holds talks with Indonesian company on money productionThe decision to issue banknotes of new denominations depends on many factors, including households' incomes, consumer prices, the share of the existing high denomination banknotes, and the development of non-cash settlements, the regulator said.
UNIAN memo. Ukraine in September 1996 conducted a monetary reform, as a result of which the Ukrainian hryvnia became the only legitimate means of payment in the country. Today, such banknotes as 1, 2, 5, 10, 20, 50, 100, 200, and 500 hryvnias are in circulation. Coins are available as 1, 2, 5, 10, 25, 50 kopiykas, as well as a 1 hryvnia coin.
Under laws of Ukraine, the issue of banknotes, minting of coins and their storage, as well as the establishment of their denominations, features and design, and the procedure for the swap of damaged banknotes and rules for their circulation are within the NBU's authority.