On April 11, Ukraine's National Bank (NBU) put into circulation a new 500-hryvnia banknote with more sophisticated security features. This was reported by Viktor Zayvenko, Director of Monetary Circulation Department at the NBU.
"The 500-hryvnia bill with enhanced protection is being put into circulation, starting 11 April 2016," Zayvenko said. "New banknotes will be circulating simultaneously with banknotes issued in 2006, therefore Ukrainian citizens will not have to exchange their existing 500-hryvnia banknotes".
The new banknote was introduced to improve its security features according to European standards, which recommend updating banknotes on a regular basis.
In 2012, Ukraine's National Bank started updating banknotes issued through 2003-2007 as part of a strategic program on improving the cash circulation in Ukraine for 2013-2018.
In March 2015, the National Bank put into circulation a newly designed 100-hryvnia banknote with extra security features.
Source: Ukraine Today