As the hryvnia increases in value, counterfeiting has increased of 500 hryvnia notes, now worth $20

As the hryvnia increases in value, counterfeiting has increased of 500 hryvnia notes, now worth $20. This month, about 60 fake 500 hryvnia notes were withdrawn, largely from gas stations across the country. Printed with inkjet printers, counterfeits of the 2006 version of the banknotes have imitation ultra violet protection. About half of all counterfeits withdrawn are of the 500 hrynia denominations, reports the National Bank of Ukraine. On Oct. 25, the central bank will put into circulation 1,000 hryvnia notes.