Renaming coins in Ukraine
Ukraine is planning to rename the 'kopeck' coins to 'step'. The Verkhovna Rada recommends adopting a bill to change the name of the coins, which is an important step in the country's financial policy.
The bill to rename 'kopeck' to 'step' was recommended by the relevant committee of the Verkhovna Rada. The head of the committee on finance, tax and customs policy, Danilo Hetmantsev, stated the necessity for such a change. Currently, there are about 14 billion kopeck coins in circulation that require replacement. In the coming years, it is planned to issue only '50 steps' denomination coins.
Historical perspective and economic aspects
The National Bank of Ukraine proposed the renaming in the fall of 2024. The renaming document was registered on October 1, 2025. The term 'step' was used in Ukraine as currency in the 16th-17th centuries. Banknotes with the name 'step' were in circulation during the Ukrainian Revolution of 1917-1921.
Yaroslav Zheleznyak noted that in the future, only '50 steps' coins will be issued for some time, approximately several tens of millions of pieces. Andriy Pyshny emphasized that the implementation of the new name will not require additional spending from the state budget, which is an important aspect in the context of the country's finances.
Renaming the coins can be perceived as part of a broader strategy of Ukraine regarding the renewal of the financial system and a return to historical traditions. This could help strengthen national identity and increase trust in the national currency. Given that changing the name of the coins will not require additional expenditures, it also reflects the government's commitment to economic efficiency amid the current financial situation in the country.