NBU withdraws the low denomination coins from circulation
Since 1 October 2019 the 1, 2, and 5 kopiika coins of Ukraine will be withdrawn from circulation.
According to the resolution of the National Bank of Ukraine No. 82 dated 20.06.2019, since October 1, 2019, 1, 2, and 5 kopiika coins will no longer be accepted for cash payments and will cease to be means of payment in Ukraine and will be withdrawn from circulation.
25 kopiikas coins will be gradually withdrawn and, so far, remain a means of payment until a separate NBU decision is made..
In this regard:
- until October 18, 2019, the compulsory acceptance from customers - legal entities, individuals who carry out business activities of 1, 2 and 5 kopiika coins for crediting of accounts is ensured;
- until September 30, 2020, exchanging 1, 2 and 5 kopiika coins on another all denominations coins and banknotes that currently are in circulation, within the amount of multiple to 10 kopiikas, will be made for individuals without charge for such an exchange;
- only profitable transactions as well as remittances are carried out with 25 kopiikas coins for legal entities and individuals forf transferring funds purposes into accounts, deposits, letters of credit.
Beginning 25 October 2019, the NBU will put into circulation the 1,000-hryvnia note – Ukraine’s highest face value banknote so far.
For more information, follow the link https://newcoins.bank.gov.ua/en#vivedennya.