The Kyiv Post welcomes feedback about our new website and we stand ready to fix any problems users might encounter in our test phase. Contact us at: or +38-044-591-3344. Thank you!

Share Tweet Pocket Add to Bookmarks
You're reading: NBU notes low number of counterfeit hryvnia banknotes

For every 1 million banknotes in Ukraine there are only 3.4 fakes, the deputy head of the National Bank of Ukraine (NBU), Vira Rychakivska, has said.

“We have only 3.4 fakes per million banknotes. This is quite a low
level,” she said at a press conference on the occasion of the 16th
anniversary of monetary reform in Ukraine.

The official said the EU has 46 fakes per million banknotes:
Ukrainian counterfeits are of low quality, while counterfeit banknotes
in some other countries are made using professional equipment and are of
high quality.

She also said it is mainly Hr 100 banknotes are forged. However, several cases of forging Hr 20 banknotes have been recorded.

According to her, as of August 1 some Hr 219.5 billion in cash was
in circulation (Hr 201.5 billion outside banks), including 2.6 billion
banknotes (56 banknotes per capita) and more than 10 billion coins (215
coins per capita).

At the same time, the volume of cash in circulation in January-June
this year fell by 2.2%, whereas in 2009-2010 the annual growth of the
circulation was 17.4%: the correlation between cash in circulation and
the money supply fell to 27.9%, which is the lowest figure in the last
ten years.

Found a spelling error? Let us know – highlight it and press Ctrl + Enter.


Add comment

Sorry, you must be logged in to post a comment.
More in this section

Add a picture
Choose file
Add a quote

Are you sure you want to delete your comment?


Are you sure you want to delete all user's comments?


Are you sure you want to unapprove user's comment?


Are you sure you want to move to spam user's comment?


Are you sure you want to move to trash user's comment?

Spelling error report

The following text will be sent to our editors: