Although the majority of commercial transactions in Ukraine were conducted digitally during peacetime, the conditions of war have drastically increased the demand for cash.
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Statistical data also indicate the need for a higher denomination banknote in the country. The amount of cash in circulation in Ukraine has increased drastically:
In 2019, when the largest banknote to date, the 1000 hryvnia (about 20 euros), was introduced, there were about 390 billion hryvnias (about 7.8 billion euros) in circulation.
By early July 2026, this number had reached as much as 970 billion hryvnias (about 19.4 billion euros).
According to the Central Bank, 1000 hryvnia banknotes currently make up more than 55% of the total value of cash in circulation.
The introduction of the new, larger banknote will optimize banknote production and logistics costs. It is announced that the blue-colored banknote will appear in circulation on September 4.
At the same time, the bank once again confirmed its commitment to making every effort to keep inflation in the country under control.
The new 2000 hryvnia banknote features the poet Vasyl Stus, symbolizing the decades-long Ukrainian struggle for their identity.
For defending human rights and actively supporting Ukrainian culture, he spent many years in Soviet labor camps, where he ultimately died.
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