Starting today, new 2,000-hryvnia banknote is being introduced into circulation
On September 4, a 2,000-hryvnia banknote featuring the image of Vasyl Stus, a poet of the 1960s, will be put into circulation.
This was announced by the press service of the National Bank of Ukraine, according to Censor.NET.
What is known?
"The date of the coin's release was not chosen at random—it carries a certain symbolism.
It was on September 4, 1965, during the premiere of the film "Shadows of Forgotten Ancestors" at the "Ukraine" movie theater in Kyiv, that Vasyl Stus, together with Viacheslav Chornovol and Ivan Dziuba, staged the first open public protest in the USSR against the mass political repression of the Ukrainian intelligentsia.
And on September 4, 1985, Vasyl Stus died in custody at the "Perm-36" maximum-security camp, the statement noted.
Reasons
The National Bank explained that when introducing new banknote denominations into circulation, central banks take economic factors into account first and foremost.
"The 1,000-hryvnia banknote was introduced into circulation in 2019, nearly seven years ago. Since then, many events have taken place in Ukraine that have affected the economy—including the COVID-19 crisis and the start of the full-scale invasion.
Just as economic conditions in 2019 led to the introduction of the 1,000 hryvnia banknote, in 2026 they have created a justified need to introduce the 2,000 hryvnia banknote," the NBU explained.
The following reasons were cited among the economic factors:
First, since the introduction of the 1,000-hryvnia banknote seven years ago, the average monthly salary in Ukraine has tripled, while the price level, as measured by the inflation index, has doubled. This has created a need for more cash, since while 10 of the highest-denomination banknotes were sufficient to cover the average monthly salary after the 1,000-hryvnia note was introduced, in 2026 more than 30 1,000-hryvnia notes will be needed for the same amount.
Second, the amount of cash in circulation more than doubled—from nearly 390 billion hryvnias in 2019 to over 970 billion hryvnias as of July 1, 2026. The increased demand for cash was driven, in particular, by wartime needs. The stability of the financial system is ensured not only by the availability and uninterrupted operation of the cashless infrastructure but also by convenient access to secure cash. For example, when residents of frontline communities are able to make payments even in areas without stable communication.
Third, there have been changes in the composition of cash in circulation. Currently, the share of 1,000-hryvnia banknotes by amount has already exceeded 55%. In global central banking practice, this indicates a need to introduce a higher-denomination banknote.
