Hryvnia counterfeiting declines - National Bank of Ukraine
MOSCOW. April 24 (Interfax) - Counterfeiting of the Ukrainian national currency, the hryvnia, fell threefold in 2025, and there were around 1.7 counterfeit banknotes per 1 million genuine hryvnia banknotes last year versus 5.1 in 2024, Ukrainian media reported, citing the National Bank of Ukraine (NBU).
"The decrease in the hryvnia counterfeiting rate in 2025 was due to a replacement of previous-generation banknotes with a more modern and better protected generation of banknotes, as well as thanks to the active work of law enforcement agencies," media outlets quoted the NBU as saying.
It is the lowest rate since the start of the crisis, the regulator said. European Central Bank data show that there were 14 fake euro banknotes per 1 million genuine banknotes in European Union countries in 2025.
Fake hryvnia banknotes most frequently seized in 2025 were those of the old hryvnia series (2003-2007), mainly UAH 500 notes from the 2006 issue, the NBU said. UAH 500 notes accounted for 80% of all seized fake banknotes, UAH 200 notes for 13%, and UAH 20, UAH 50, UAH 100 and UAH 1,000 notes for only 7%.
New-style banknotes from the 2014-2019 series accounted for a mere 10% of the total number of counterfeit notes seized in 2025, and there were only 0.2% fake banknotes per 1 million genuine new-generation banknotes. These fake hryvnias were mostly of poor quality and were used in the hope that they would not be noticed by citizens and staff at stores.
The number of fake foreign currency banknotes seized in Ukraine in 2025 also fell by about a quarter year-on-year. U.S. dollars traditionally accounted for the majority of counterfeit foreign currency banknotes seized in Ukraine, 93% of all fake foreign currency notes seized in 2025, and euros for 7%.
Most frequently counterfeited foreign currency banknotes were $50 and $100 bills, accounting for 13% and 85%, respectively, of the total number of seized fake dollars, as well as 50-, 100-, 200- and 500-euro bills, which accounted for 35%, 22%, 26%, and 15%, respectively, of the total number of seized counterfeit euros.
