Ukraine Abolishes Kopecks: What Will Replace the Cash Coins.

According to inkorr.com: Ukraine is preparing to replace the 'kopeka' coins with a new currency called 'shah' by the end of the year. In the fall, new coins with the first prints of national heroes' names are planned to be released, marking the completion of the monetary reform. This was stated by the head of the National Bank of Ukraine, Andriy Pyshny, emphasizing the importance of this step to rid the country of symbols of former Moscow influence.

'We must finally complete... the monetary reform and remove any kinship, any ties with Moscow. Because we have our own (name). And it's time to finally return it'

The head of the NBU also noted that the term 'shah' was used in Ukraine as a currency unit back in the 16th-17th centuries, and the corresponding banknotes were in circulation during the Ukrainian Revolution of 1917-1921. New coins are expected to appear by the end of the year.

Abolition of 'kopeks' and responses to criticism

It is known that 'kopeka' has remained only in three former Soviet republics: Russia, Belarus, and Ukraine. This has sparked protests from the National Securities and Stock Market Commission. Former member of the National Bank Council Vitaliy Shapran emphasized that a coin with the inscription 'shah' has never been used in Ukraine.

Thus, the introduction of new coins with first prints of names on them indicates Ukraine's intentions to complete the monetary reform and abandon 'kopeks', which aligns with the course towards restoring the national currency unit.

This step signifies a substantial change in Ukraine's economic policy, highlighting the aspiration for independence and the restoration of Ukrainian identity. The introduction of the new currency 'shah' could be an important milestone in the development of the country's modern financial system, which continues to implement changes to adapt to new economic realities.