The Head of the National Bank of Ukraine, Andriy Pyshny, announced plans to replace coins with denominations of 10 and 50 kopecks with new coins known as «shags». According to him, the term «kopeck» has Moscow roots and is only used in Moscow, Minsk, and in territories temporarily occupied by Russia.

This was reported by a correspondent from the Ukrainian Information Service, citing an interview with NBU Head Andriy Pyshny for Ukrainian Radio.

Pyshny noted that the transition to «shags» should have occurred with Ukraine's independence: in 1992, a test batch of such coins was issued, but there was not enough political will to implement them at that time.

The National Bank is currently awaiting approval from the Verkhovna Rada. After this, it is planned to cease minting kopecks and begin issuing coins under the name «shag». According to the NBU Head, this process will not require additional costs from the state budget.

Pyshny emphasized that the transition to «shags» will not affect the purchasing power of the hryvnia. Currently, about 14 billion change coins of 10 and 50 kopecks are in circulation, and each year the NBU is forced to mint at least 20 million of these coins.

In Pyshny's opinion, this move will solidify Ukraine's monetary sovereignty and eliminate the use of the term «kopeck» with its Moscow origins. Most former Soviet republics have already abandoned this term, and it is time for Ukraine to revert to the historical name of its change coin.