Banking Reform: Phasing Out 10-Kopiyka Coins
The National Bank of Ukraine is considering gradually withdrawing 10-kopiyka coins from circulation beginning October 1, 2025.
This was reported by the press service of the NBU.
It is noted that this initiative aims to reduce expenses for the state and participants in cash circulation. This is because 10-kopiyka coins have ceased to play a significant role in cash transactions for goods and services. According to the NBU, approximately 4.1 billion 10-kopiyka coins are currently in circulation.
The NBU explained that the gradual withdrawal of these coins would help lessen state expenditures on their production, processing, transportation, storage, and circulation maintenance.
Thus, the regulator proposes to stop minting 10-kopiyka coins and replenishing cash circulation with them starting October 1, 2025. Banks will also not return these coins to circulation after receiving them from citizens and businesses. However, 10-kopiyka coins will remain valid for transactions. Citizens will be able to continue using them for payments, and banks will accept them for account deposits and payment operations.
Moreover, the NBU suggests implementing rounding rules for total amounts on receipts during cash transactions starting from October 1, 2025: amounts from 1 to 24 kopecks will be rounded down to 0 kopecks, from 25 to 49 kopecks will be rounded up to 50 kopecks, from 51 to 74 kopecks will be rounded down to 50 kopecks, and from 75 to 99 kopecks will be rounded to the nearest whole number.
The draft of the corresponding resolution by the NBU Board is open for public discussion until August 7, 2025.
