10-kopeck coins may be withdrawn from circulation: NBU explains details

In Ukraine, the possibility of withdrawing 10-kopeck coins from circulation is being considered; this is planned to be gradually implemented from October 1, but such coins will still be usable for payments until a decision on their final withdrawal is made, the NBU reported on Tuesday, writes UNN.

The National Bank of Ukraine is considering the possibility of gradually withdrawing 10-kopeck coins from cash circulation

Why this is necessaryAccording to the NBU, there are currently about 5.5 billion pieces of small change in cash circulation:

• 1.4 billion pieces of 50-kopeck coins;
• 4.1 billion pieces of 10-kopeck coins.

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Every year, the NBU, as stated, must maintain circulation and supply banks and the trade and services sector with small change. In particular, according to the report, in 2025, the minting of 20 million new 50-kopeck coins is planned, “as cash circulation requires this.”

“While there is stable demand for 50-kopeck coins, particularly from the trade sector, 10-kopeck coins have ceased to play a significant role in cash payments for goods and services. Their gradual withdrawal from circulation will allow for a reduction in the costs of manufacturing, processing, transporting, storing, and circulating such coins,” the NBU explained.

When does the NBU plan to start withdrawing coins?

The gradual withdrawal of 10-kopeck coins from cash circulation is planned to begin on October 1, 2025. Their minting and replenishment of cash circulation will also cease

However, as noted, “these small change coins will continue to remain in circulation (until a decision is made on their final withdrawal).”

How cash payments will continue to be made”Banks will still be able to accept 10-kopeck coins from citizens and businesses for crediting to accounts, deposits, letters of credit, and for performing payment operations,” the NBU reported.

At the same time, once they reach banks, such coins, as noted, will no longer be returned to circulation, but will be withdrawn and transferred to the NBU for further recalculation and disposal.

“Also, 10-kopeck small change coins will still be usable for payments in the trade network,” the National Bank reported.

“Important! If there are no 10-kopeck coins during cash operations, the rules for rounding the total amounts in the check will apply (as was the case when 1, 2, 5, and 25-kopeck coins were withdrawn from circulation). Rounding will not be performed during cashless payments,” the regulator said.

Currently, the NBU, as stated, has begun a public discussion of this initiative.