Paper Money

Ukraine to issue new note with increased security

It may not exactly be a battle of the bank notes, but it is ironic that just two days after Russia’s release of a commemorative bank note considered in some circles insulting to Ukraine (Coin World, Jan. 18 issue) that country announced a new issue of its own. The difference is Ukraine’s note is intended to provide increased security and not make any political statements.

The new 500-hryvnia note is predominantly beige in color and similar in size to its predecessor. The main images are the same but repositioned. The color and size differ significantly from other denominations, which is intended to help the public easily identify it. 

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The bank says that the biggest changes concerned the “updating of certain design elements and the implementation of ‘window’ protective tape and the optically-variable element SPARK® technology.”

The new notes will enter circulation on April 16. Older bills will remain in circulation and do not need to be exchanged.

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