On 25th December 2015 the National Bank of Ukraine presented the new 500 hryvnia banknote, which is to enter circulation on 11 April 2016.
The 500 denomination is the latest to be revealed, as part of a project launched in 2012 to revamp all note denominations released between 2003 and 2007.
“The main reason behind the need to revamp the design of the banknote series is to enhance their security features. In accordance with European standards and practices, it is necessary to redesign banknotes from time to time to minimize or eliminate the chances of banknote counterfeiting. Not only do we redesign our banknotes, but we also enhance their security features,” Yakiv Smolii , Deputy Governor, National Bank of Ukraine
The new paper note is predominantly beige in colour and continues to be the same size as its predecessor. New security features include a windowed security thread, which appears to be Crane Currency’s Rapid™ feature (tbc), SICPA’s new SPARK Live optically variable feature (tbc), a watermark, a see through feature and a tactile feature to aid those with visual impairments to ascertain the note’s denomination.
“These two security features [security thread and SPARK], which are also incorporated in the 2014 design 100 hryvnia banknote, will enhance the security against counterfeiting and help cash users to identify genuine banknotes,”
The new banknote will circulate alongside the old design banknote for the foreseeable future.