The National Bank explained what it plans to do with the 50 kopeck coins

The NBU plans changes with coins

The head of the National Bank of Ukraine, Andriy Pyshnyy, explained that the NBU plans to make changes regarding the 50 kopeck coins. He reported this on his Facebook page.

'One of the news from the NBU today is that we are considering the possibility of gradually withdrawing 10 kopeck coins from circulation. They no longer play a significant role in cash transactions, so we bring this issue up for discussion,' - noted Pyshnyy.

It is emphasized that 50 kopeck coins remain in circulation and are in stable demand, especially among traders.

The name of the 'kopeck' coin may change

The head of the NBU also noted that the name of the change coin may be changed from 'kopeck' to 'step'. He emphasized that this initiative is aimed not only at changing the name but also at distancing from Russian financial traditions and returning to Ukrainian terms.

'The focus is primarily on moving away from Russian financial traditions and returning to genuinely Ukrainian terms. This is the final separation from Moscow, Minsk, Tiraspol, where 'kopeck' circulates,' - explained Pyshnyy.

Changes in laws that propose changing the name of the coin are part of a monetary reform that began back in 1996. They contribute to the Ukrainian linguistic presence in the financial sphere.

A representative of the National Bank of Ukraine revealed plans for changes in coin circulation, discussions regarding the withdrawal of 10 kopeck coins and the possible change of the name of the 'kopeck' coin to 'step' as part of efforts to disconnect from Russian financial traditions.