National Bank wants to withdraw 10 kopecks coin from circulation
29 July 2025 14:53
The National Bank of Ukraine is considering the possibility of gradually withdrawing 10 kopeck coins from cash circulation, as they do not play a significant role in cash payments, according to the NBU website, "Komersant Ukrainian" reports
It is noted that the coins can be used to pay in the retail network, but once they get to the banks, they will not be returned, but will be withdrawn for further recycling and disposal. Currently, there are about 4.1 billion 10-kopiika coins in cash circulation.
“Every year, the NBU has to support the circulation and back up banks, trade and services with change coins. In particular, in 2025, the NBU plans to mint 20 million new 50 kopiyka coins, as this is required by cash circulation. Therefore, while there is a steady demand for 50 kopiika coins, in particular from the trade sector, 10 kopiika coins have ceased to play a significant role in cash payments for goods and services,” the statement said.
It is noted that the decision to gradually withdraw 10-kopiika coins will reduce the costs of the state and cash circulation participants for the production, processing, transportation, storage and circulation of such coins.
In this regard, the NBU proposes to start gradually withdrawing 10 kopiyka coins from cash circulation starting from October 1. Accordingly, the NBU will stop minting 10 kopiika coins and replenishing them with cash.
However, these change coins will continue to remain in circulation until the NBU makes a separate decision on their final withdrawal.
On the application of rounding rules
At the same time, if there are no 10 kopiika coins in cash transactions, it is proposed to apply the rules for rounding up the total amounts in a check (previously, such rounding rules were applied when withdrawing 1, 2, 5, and 25 kopiika coins from circulation).
Thus, starting from October 1, 2025, when making cash payments for goods (works, services), the following rules are proposed for rounding off the total amounts in a check:
- The amount ending in 1 to 24 kopecks is rounded down to the nearest amount ending in 00 kopecks;
- The amount ending in 25 to 49 kopecks is rounded up to the nearest amount ending in 50 kopecks;
- The amount ending in 51 to 74 kopecks is rounded down to 50 kopecks;
- The amount ending in 75 to 99 kopecks is rounded up to the nearest amount ending in 00 kopecks.
No rounding will be applied to non-cash payments, as is the case with rounding to multiples of 10 kopiykas, which has been in effect in Ukraine since 2018.
Experience with the rounding rules shows that this does not have a significant impact on inflation, as it is a rounding of the sum of all items in the check, not the prices of individual items.
