The head of the National Bank of Ukraine, Andriy Pyshny, announced plans to replace the 10 and 50 kopeck coins with new currency known as «shagi». He pointed out that the term «kopeck» is associated with Moscow and has only survived in a few locations.

This information comes from a correspondent of the Ukrainian Information Service, citing an interview with Pyshny for Ukrainian Radio.

Pyshny emphasized that the transition to «shagi» should have been implemented right after Ukraine gained independence. In 1992, a trial batch of such coins was produced, but the lack of political will prevented their introduction.

Currently, the National Bank is awaiting approval from the Verkhovna Rada. Following this, the minting of kopecks will cease, and the production of coins labeled «shag» will begin. According to Pyshny, this process will not require additional expenditures from the state budget.

He also assured that switching to «shagi» will not affect the purchasing power of the hryvnia. Approximately 14 billion coins of 10 and 50 kopecks are currently in circulation, and each year the National Bank is compelled to mint at least 20 million additional coins.

Pyshny believes that this step will solidify Ukraine's monetary sovereignty and eliminate the use of the term «kopeck» with its Moscow origins. Many former Soviet republics have already abandoned this term, and now it is time for Ukraine to reclaim the historical name of its currency.