“Ukrainian specialists have long been considering the use of domestic raw materials in the production of banknote paper in addition to cotton fiber,” the NBU’s deputy head, Yakov Smoliy, told reporters.
He said that domestic raw materials, such as flax, cost much less than imported cotton fiber, which is a scarce commodity.
According to Smoliy, the natural properties of flax fibers significantly exceed the mechanical strength of cotton fibers, ensuring a longer wear resistance of paper.
The first batch of paper with a partial content of Ukrainian flax to be used in the manufacture of hryvnia banknotes has already been printed in the country’s western Zhytomyr region.
Yakov Smoliy said that the use of ingredients other than cotton fiber was a “normal banking industry practice” but failed to mention the countries resorting to this ‘‘practice.”
