The National Bank of Ukraine (NBU) will begin to gradually withdraw 10-kopeck coins from circulation from October 1.
According to the financial regulator, currently 4.1 billion 10-kopeck coins are in circulation among Ukrainian citizens, which is 27.4% of the total number of coins in the country. It is noted that they have ceased to play a significant role, therefore a decision has been made to stop their minting. This gradual withdrawal is expected to reduce the costs for the state and participants in monetary circulation of the production, processing, transportation, storage and circulation of such coins.
It is emphasized that 10-kopeck coins will continue to be accepted for payment, but they will be immediately sent to the National Bank for destruction. Also, if the required kopecks are not available at the time of cash payment, the amounts will have to be rounded up. This rule will not apply to non-cash payments.
At the same time, 1.4 billion 50-kopeck coins are still in circulation in the country, and they remain in demand.
Previously, Ukraine was considering renaming the small coin „kopeck“ to „shag“. On October 11, 2024, the National Bank sent a letter to the Chairman of the Verkhovna Rada Ruslan Stefanchuk with a request to support the initiative. Stefanchuk received the letter because the NBU has the right to propose legislative amendments, but cannot independently register bills. The National Bank reported that this step was a bargaining chip in the territory of modern Ukraine in the 17th century, as well as during the Russian Civil War.
Source: tass.ru