Despite the fact that the dollar exchange rate promises to be “favorable” against the hryvnia in the coming months, Ukrainians will not be able to enjoy every dollar bill in their wallets.
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This is reported by “Economic News” with reference to information on the NBU page, where the country's main bank's answers to citizens' questions are posted.
In addition, the official website of the NBU states that according to the Regulations on conducting cash transactions in the national currency in Ukraine, cashiers of banks and currency exchange offices are obliged to accept any banknotes, unless they are counterfeit. The procedure for conducting such cash transactions is described in paragraph 21 of the second section of the above-mentioned Regulations.
However, if the cashier has doubts about the authenticity or solvency of a particular banknote, he has the right to refuse the person the exchange.
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This concerns, in particular, large denominations: 500, 1000, 5000 and 10,000 dollars – they have long been out of circulation. The last printing of such banknotes took place in 1945, and they were officially withdrawn in 1969. Therefore, banks and exchangers refuse to accept these banknotes. The only chance is to sell them to collectors or look for the “black market”, where they are perceived more as an investment than as cash.
They may also not accept damaged banknotes: torn, burned, stained, or with other “damaged designs.” Their exchange requires a special collection procedure — the currency is sent to a foreign bank, and the service is paid and beneficial only for large amounts.
The procedure can take several weeks or even months. And the service itself charges a commission, which the client pays regardless of the outcome of the review. Its amount is determined by the bank itself.
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“If you have foreign banknotes that contain inscriptions, dirt, tears or cuts, you can hand them over for collection. You need to contact any Ukrainian bank that carries out operations with the relevant foreign currency. Banks accept damaged and worn banknotes, transfer them to the country of origin and exchange them for those suitable for circulation,” the National Bank said.
Recall that economist and member of the Council of the National Bank of Ukraine Vasyl Furman advised on which currency is better to keep money in during wartime.
