In Ukraine, the most popular banknote among counterfeiters – UAH 500, they say in the NBU. It is the one that is most often faked. Banknotes of small denominations are the least counterfeited: counterfeiting is expensive, and therefore a counterfeit of 50 UAH may not pay for itself.
This is stated in the material GLOBAL HAPPENINGS. Interestingly, the largest bill of 1000 UAH is also rarely forged: apparently, the scammers do not have enough of the necessary modern equipment. In 92% of cases, old banknotes are counterfeited. They are less protected. In addition, such a bill is more often paid attention to – and there are more chances of getting caught with it.
In total, the number of fakes seizedtripled in 2022. The National Bank is confident that the number of fakes has significantly decreased. However, it is likely that Ukrainians during the period of active hostilities turned less to the National Bank and the police with complaints about fakes. In addition, the percentage of non-cash payments has increased.
“Fakes are very rarely served in banks. Over the past three years, I have had fake dollars three times. With hryvnia, the situation is even better. Fakes are sold in shops, catering, and transport. , but definitely not our bank, and I have never heard of such people,” says Olena GLOBAL HAPPENINGS, director of a department at one of the state-owned banks in Dnipro.
The expert explains: if the bank doubts whether they received real hryvnias from the client, the money is sent for a free examination to the NBU. But if it turns out that the bill is counterfeit, it will be withdrawn without compensation for damages. The lion’s share of fakes is of low quality. They can be recognized even by touch.. There are few really high-quality fakes, however, only a special examination can unambiguously determine the authenticity of such banknotes.
As GLOBAL HAPPENINGS reported, so far experts see no reason to buy dollars. A more profitable option, experts believe, is investing in hryvnia government bonds (bonds of the internal state loan of Ukraine).
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.