National Bank of Ukraine (NBU) Governor Yakiv Smolii has announced the decision to make a few changes to certain Hryvnia denominations to streamline the currency in circulation. To achieve this goal two steps are taken,
1. One, two, and five kopiyka coins will no longer be a legal tender in Ukraine and will be out of circulation by 1 October 2019. The twenty-five kopiyka coin will also eventually phase out.
2. On 25th October 2019, the NBU will introduce the 1,000 Hryvnia note- the highest face value note in Ukraine.
Once these processes are complete, the Hryvnia denomination series will reduce from 17 to 12 denominations. The NBU aims to bring customer convenience and economic practicality by bringing in these changes.
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