The head of the National Bank of Ukraine, Andriy Pyshnyy, has confirmed the intention to introduce new 10 and 50 kopeck coins, which will be replaced by «shags». He stated that the term «kopeck» is a Russian term, used only in Moscow, Minsk and occupied territories.

This information was reported by a correspondent from the Ukrainian Information Service, referencing an interview with Andriy Pyshnyy for Ukrainian Radio.

Pyshnyy emphasized that the transition to the new coins should have occurred since Ukraine's independence was declared: a trial batch was issued in 1992, but due to a lack of political will, it was not implemented.

Currently, the National Bank is awaiting approval from the Verkhovna Rada. After that, it is planned to halt the minting of kopecks and begin producing coins called «shag». The NBU head noted that this process would not require additional costs from the state budget.

Pyshnyy also stated that the transition to «shags» will not affect the purchasing power of the hryvnia. Currently, about 14 billion coins of 10 and 50 kopecks are in circulation, and each year the NBU has to mint at least 20 million additional coins.

According to Pyshnyy, this step will solidify Ukraine's monetary sovereignty and eliminate the use of the term «kopeck» with its Russian origins. Most former USSR republics have already abandoned this term, and it is time for Ukraine to reclaim the historical name of its change coin.