There has been a significant reduction in the volume of counterfeit money in Ukraine. In July 2025, there were only 3.3 counterfeits for every million genuine banknotes. This is nearly one and a half times lower than at the beginning of 2024, when this figure was 5.1, and three times lower than in 2021, when over 7 counterfeit banknotes were recorded per million.
This is reported by Finway
Which Banknotes Are Most Often Counterfeited
According to the National Bank of Ukraine, among the counterfeit hryvnia banknotes, older series banknotes prevail. In 2024, 94.5% of all detected counterfeits were such banknotes. The most counterfeited were 500 hryvnia banknotes, accounting for 78% of all counterfeits, while 200 hryvnia banknotes made up 18%. Newer hryvnia banknotes are counterfeited much less frequently — only 5.5% of the total number of seized counterfeits, which amounts to about 0.3 banknotes per million genuine ones.
Counterfeits of the new series hryvnia usually have low quality and are designed to exploit the inattention of both citizens and cashiers in retail establishments.
“This is due to the fact that the national currency banknotes of the modern generation, particularly the denominations of 100, 200, 500, and 1,000 hryvnias, which the National Bank introduced into circulation between 2015 and 2020, have an improved design and enhanced security features,” the NBU noted.
The Situation with Counterfeit Foreign Currency
In 2024, US dollars dominate among counterfeit foreign currency. They account for 93% of all seized counterfeit foreign banknotes, while euros make up only 7%. The most frequently counterfeited banknotes are those with denominations of 100 and 50 dollars (90% and 9% of all counterfeit dollars, respectively), as well as 200, 100, and 50 euros (35%, 25%, and 21% of all counterfeit euros, respectively).
Experts explain that modern hryvnia banknotes have over 20 security features: special inks that change color at different angles, “window” security threads with moving effects, and the SPARK element that shimmers when tilted. This allows for easy verification of a banknote’s authenticity without special equipment — simply look at the banknote in the light or feel the texture by touch.
If there are any doubts about the authenticity of the money, Ukrainians can contact any bank for verification: genuine banknotes are returned to the owner, while counterfeit ones are confiscated without compensation.