The National Bank of Ukraine says Ukrainians are holding more cash again. As of October 1, 2025, cash in circulation (outside banks) reached ₴890.1 billion — that’s ₴67.7 billion more than on January 1, or +8.2%.
The NBU explains: at the beginning of the year cash usually “returns” to banks, but in the second and third quarters demand rises again — this is a recurring seasonal pattern. This year, the factor of war also played a role: intensified air attacks and the risk of long blackouts traditionally push people and businesses to keep more cash on hand.
What’s in circulation
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Banknotes: 2.6 billion pcs worth ₴881.0 billion
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Coins (circulation, exchange, payment): 15.1 billion pcs worth ₴8.9 billion
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On average per resident: 63 banknotes and 191 coins (at the start of 2025 there were 186 coins per person — so coins are growing in circulation).
Which banknotes Ukrainians use most
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The most common is the ₴500 note — 26.6% of all banknotes.
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The rarest in circulation is ₴50 — 4.5%.
What’s happening with coins
Ukraine now actually uses two “lines” of coins — circulation coins for 1, 2, 5, 10 hryvnias and “old” exchange/payment coins.
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Among circulation coins, ₴1 is the most widespread.
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₴10 circulation coins are still the rarest — 2.2% of the total.
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From October 1, 2025, the NBU started gradually withdrawing 10-kopeck coins. They make up a huge 27.4% of all coins, but are almost not used in payments, so their withdrawal will reduce costs for minting, transporting and counting cash.
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At the same time, 50-kopeck coins remain in demand — especially in trade. Their share is 9.1%.
What denominations are growing fastest
For January–September 2025, the NBU saw the biggest increase in:
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₴1,000 banknotes — their share rose by 3.6%;
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₴10 circulation coins — +0.3%.
This means people and businesses are both holding more large-denomination notes (for savings / emergency cash) and gradually getting used to the newer high-value coins.
Why it matters
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Growth of cash in circulation during war is normal: people want a buffer in case terminals, banks or power go down.
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At the same time, the share of cash is growing moderately, not explosively — which suggests trust in non-cash payments remains.
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The NBU is cleaning up the “old” small coins while pushing circulation coins — this will simplify cash turnover and reduce costs for the state and business.
