U k r V i s t i

l o a d i n g

Renaming Currency: A Historic Move for Ukraine

The Ukrainian Parliament is discussing renaming the currency unit from 'kopiyka' to 'shag'.

image

A bill has been registered in the Ukrainian Parliament regarding the renaming of the country's change coin. This information is available on the official website of the Verkhovna Rada.
Among the initiators of bill No. 14093 are the Speaker of the Parliament Ruslan Stefanchuk and other lawmakers.
It is noted that the term 'kopiyka' has a 'hostile, post-Soviet, and Russian origin', as stated in the explanatory note to the bill.
This name is still used only in countries considered adversaries of Ukraine, such as Russia, Belarus, and the so-called Transnistria, the authors point out.
In Ukraine, during the times of the Hetmanate and the Ukrainian Revolution, the term 'shag' was used for small denominations.
Thus, the return of this name is seen as a restoration of historical and linguistic tradition, according to the bill's authors.
On April 18, 1918, the Central Council issued change stamps in denominations of 10, 20, 30, 40, and 50 shags, which were in circulation until March 1919 when they were abolished by Soviet authorities.

Additionally, it should be noted that in September 2024, the National Bank initiated the change of the denomination name from 'kopiyka' to 'shag' to restore historical justice.
In October 2024, the National Bank submitted a package of legislative proposals to the Verkhovna Rada regarding the renaming of Ukraine's change coin.
The transition from 'kopiyka' to 'shag' will not require additional costs from the state budget, stated the head of the National Bank, Andriy Pyshny. The National Bank also announced that in October, the withdrawal of the 10 kopiyka coin from circulation will commence.