Pyshnyy explained why Ukraine introduced a 2,000-hryvnia banknote
The introduction of the 2,000-hryvnia banknote is a response to changes in the Ukrainian economy and the needs of the cash circulation system. This was stated by Andriy Pyshny, Governor of the National Bank of Ukraine.
According to him, the decision was made following a detailed analysis of economic indicators. Since the introduction of the 1,000-hryvnia banknote in 2019, Ukraine’s economy has changed significantly due to the COVID-19 pandemic and the full-scale war.
Pyshnyy noted that during this period, the amount of cash in circulation rose from nearly 390 billion hryvnias to over 970 billion hryvnias, and the share of 1,000-hryvnia banknotes exceeded 55% of the total cash supply.
In addition, over the past seven years, the consumer price index has effectively doubled, and the average monthly salary in May 2026 reached nearly 31,000 hryvnias. While in 2019, about 10 of the highest-denomination banknotes were sufficient to pay the average salary, now more than 30 are needed.
According to the head of the NBU, the new banknote is intended to make cash transactions more convenient and efficient, and it also reflects the current state of the Ukrainian economy.
Source: Andriy Pyshnyy’s Facebook page.
The National Bank of Ukraine is preparing to put a new high-denomination banknote—2,000 hryvnias—into circulation. It will be available to the public starting September 4, 2026.
