26.65 27.05
29.4 29.95
Economy 2020-09-20T04:02:34+03:00
Ukrainian news
NBU Decides Withdraw From Circulation 25 Kopeck Coin From October

NBU Decides Withdraw From Circulation 25 Kopeck Coin From October

National Bank, NBU, coin, 25 kopeck, circulation

The National Bank of Ukraine (NBU) decided to withdraw the 25 kopeck coin from circulation from October.

Deputy Head of the NBU Oleksii Shaban has said this in a statement, Ukrainian News Agency reports.

"From October 1, 25 kopeck coins will cease to be a means of payment. From October they will not be able to pay for goods or services. But after October 1, these coins can be handed over to banks and exchanged for other banknotes and coins for another 3 years," he said.

Shaban added that from October 1, the NBU withdraws from circulation banknotes of the old denominations issued before 2003.

There are less than 2% of such banknotes in circulation at the moment.

The National Bank will actively withdraw from circulation paper banknotes of 1 and 2 hryvnia and 1 hryvnia coins of the 1996 model, replacing them with the corresponding circulating coins of the 2018 model.

For the period from October 1, 2019 to August 31, 2020, 77.5 million pieces of coins of small denominations were withdrawn from the cash circulation, of which:

1 kopeck - 3.5 million pieces or 0.14% of the coins of this denomination in circulation;

2 kopecks - 1.9 million pieces or 0.14% of the coins of this denomination in circulation;

5 kopecks - 23 million pieces or 1.3% of the coins of this denomination in circulation;

25 kopecks - 49.1 million pieces or about 3% of the coins of this denomination in circulation.

As Ukrainian News Agency earlier reported, coins of 1, 2 and 5 kopecks ceased to be a means of payment in Ukraine and were withdrawn from circulation from October 1, 2019.

As a result, after the process of withdrawing small coins and the introduction of new denomination banknotes into circulation, the nominal range of the hryvnia will be reduced from 17 to 12 denominations.

The range of 11-13 denominations is the most used approach for the leading countries of the world - from the USA, Canada, United Kingdom to the Czech Republic, Denmark, Switzerland and Australia.

Больше новостей о: National Bank NBU coin 25 kopeck circulation

News

ok