Increase in Cash Circulation in Ukraine
In 2025, the amount of cash in circulation rose by 12.6% (an increase of 103.9 billion hryvnias), reaching a total of 926.3 billion hryvnias as of January 1, 2026. This was reported by the National Bank of Ukraine.
Last year, the growth rate of cash in circulation accelerated (in 2024, the increase was 7.6%).
This increase was driven by rising wages and social benefits, stable consumer demand for goods and services, and a slowdown in inflation. However, risks associated with Russian aggression also contributed to the rise in cash volumes, prompting citizens to stockpile cash hryvnias.
According to the NBU, there are currently 2.6 billion banknotes in circulation totaling 916.9 billion hryvnias, as well as 15.2 billion coins (excluding commemorative and investment ones) worth 9.3 billion hryvnias.
At the beginning of the year, there were 64 banknotes and 193 coins per resident of Ukraine (as of January 1, 2025 – 63 and 186 respectively).
The most common banknotes are those with a denomination of 500 hryvnias, while the least common are 50 hryvnias (26% and 4.6% of the total banknotes in circulation, respectively).
Regarding coins, the circulation includes both change and circulating coins. The largest number of coins in circulation are 1 hryvnia coins, while the least are 10 hryvnias (4.6% and 2.3% respectively). A gradual withdrawal of 10 kopeck coins started on October 1, 2025.
During 2025, 3.1 million coins of this denomination have already been withdrawn. Currently, the share of these coins in circulation at the beginning of the year is 27.2%.
There is a steady demand for 50 kopeck coins, especially from the retail and services sector, making up 9.1% of the total in circulation.
The dynamics of coin volumes show that the highest growth rate in 2025 was seen in 5 and 10 hryvnia coins, with their numbers increasing by 21% and 29%, respectively, compared to the beginning of the year.
The number of 25 kopeck coins significantly decreased last year, dropping by 0.1% compared to the beginning of 2025 due to the withdrawal of these non-circulating coins.
For the first time in recent years, the number of 100 and 50 hryvnia banknotes increased in circulation in 2025 (by 4.5% and 6.3% respectively compared to the start of the year).
However, the most significant reduction was observed among 200 hryvnia banknotes, with their circulation decreasing by 17.6% last year, primarily due to the active replacement with 1,000 hryvnia banknotes and the gradual withdrawal of old samples.
Additionally, the number of 10 and 5 hryvnia banknotes also saw a significant decrease (by 10% and 8% respectively), as they are gradually being withdrawn from circulation and replaced by corresponding coins.
