The National Bank intends to gradually remove 10-kopeck coins from active use.
Ukraine has opted to phase out the kopeck. The National Bank is planning to take 10 kopecks out of circulation starting in October. A similar action concerning the 50 kopeck coin is being considered for the near future.
In Ukraine, kopecks—minor denomination coins less than one hryvnia—may vanish completely. Currently, two such coins are still being used: 10 and 50 kopecks (the 1, 2, 5, and 25 kopecks were taken out of circulation a while ago). Today, the National Bank publicly declared that it is “assessing the possibility of gradually removing 10-kopeck coins from active use.”
The NBU indicates that it intends to initiate a gradual removal of these coins starting October 1, 2025, and halt the minting of 10-kopek coins to replenish the currency in circulation. Once these coins are returned to the National Bank through the banking sector, the regulatory body does not intend to redistribute them to the market by providing them to banks for cash register replenishment. Authorities will commence the recycling process.
However, the National Bank clarifies that, for the moment, 10 kopecks will continue to be legal tender, implying that banks must accept them for account deposits and fund transfers, and retail and service establishments must accept them as payment for goods and services.
Despite the announcement, the National Bank is still using the word “planning” and stressing that this is all preliminary. A definitive decision is yet to be made. Nonetheless, a draft NBU resolution has been published, set for public discussion until August 7, 2025. Financial analysts are confident that the resolution will be approved.
“Banks and retail businesses haven't needed 10 kopeck coins for a long time; they've lost their purchasing power. You can't buy anything with them, and stores won't even accept them as change. This matter has been repeatedly discussed with National Bank head Pyshny, who is still promoting the notion of renaming the two remaining small coins (10 and 50 kopecks) to 'shagi'. Simultaneously, bankers and businesses are requesting the complete abolition of the 10 and 50 kopeck coins. These coins are worthless, and the state doesn't need to incur costs on their production. They're mostly melted down for their metal content, which is worth more than their nominal value. Consequently, I'm confident that the draft resolution will be approved, and the withdrawal of 10 kopeck coins from circulation will commence on October 1st. The 50 kopeck coins are next—they'll meet a similar fate. This is being postponed to avoid acknowledging the actual inflation rate in the country, which is undeniably higher than the officially reported 14.3% in June,” the director of a major bank revealed to the Strana newspaper. jar.
Currently, there are two small denomination coins in use in Ukraine: 10 and 50 kopecks, with the following quantities in circulation:
• 10 kopecks – 4.1 billion units;
• 50 kopecks – 1.4 billion units.
According to the NBU report, 10 kopeck coins represent 27.5% of the total coin supply, while 50 kopeck coins constitute 9.1%. Current hryvnia denominations (1, 2, 5, and 10 hryvnia) account for 12.5%. Furthermore, more than half—50.9%—of the coin supply comprises coins that have already been removed from circulation or are in the process of being phased out (for example, the large 1 hryvnia coin) and are not accepted by traders.
After the removal of the 10 kopeck coin, 78.4% of coins in Ukraine will become non-functional.
