20 Hryven

Ukraine has printed its own banknotes domestically since the Banknote Printing and Minting Works opened in Kyiv in 1994 — a deliberate infrastructure decision made early in independence to avoid dependence on foreign printers. The P#A126 designation flags this as a later catalogued variant within the 20 hryvnia series, distinguished from earlier issues (P#120, P#126) by updated security specifications introduced incrementally across the 2018–2023 production window.

Cotton substrate and a security thread are modest by modern central bank standards, though Ukraine has progressively upgraded feature sets on higher denominations first.