Ukraine Central Bank to Issue 2,000-Hryvnia Banknote, Its Largest Denomination

According to Lianhe Zaobao citing Reuters, the National Bank of Ukraine said it will issue a 2,000-hryvnia banknote, which will be the country’s largest denomination, to support cash transactions amid war-driven inflation and disruptions to banking and electronic payment systems. Central bank governor Andriy Pyshnyy said on July 10 that the blue note, currently worth about USD 45 (SGD 58.08), will enter circulation on September 4 and will feature a portrait of Soviet-era Ukrainian dissident and poet Vasyl Stus. Pyshnyy said access to cash is critical, particularly in frontline areas, even though most commercial transactions in Ukraine are cashless. He added that cash in circulation had risen to 970 billion hryvnias as of early July 2026, up from about 390 billion hryvnias when the 1,000-hryvnia note was introduced in 2019, and that 1,000-hryvnia notes now account for more than 55% of the total value of banknotes in circulation.