The Verkhovna Rada voted for 'shag' instead of 'kopeck': what does it mean.

According to ТСН: The Verkhovna Rada approved in the first reading draft law No. 14093, which proposes to rename Ukraine's change coin. Instead of the term 'kopeck', a new name - 'shag' - is planned to be introduced.

This information was announced during the plenary meeting by MP Yaroslav Zheleznyak.

Approval Process

264 MPs voted in favor of the initiative, which is sufficient to continue the consideration of the document in parliament. The final decision still requires approval in the second reading and in general; only after that can the law come into effect.

Current Situation with Coins in Circulation

The National Bank of Ukraine reports that currently about 14 billion coins of small denominations are in circulation. These are coins that are hardly used in everyday transactions but formally remain a legal means of payment.

Despite their low purchasing power, such coins continue to be counted in the official money supply of the state.

Origin of the Term

The name 'shag' comes from the old Ukrainian 'syah', which means step, or from the word 'sheliah'. This term often appears in the works of Shevchenko, Lesya Ukrainka, Kotlyarevsky, and other classics.

In 1918, the Central Rada issued change money in denominations of 10-50 shags, which were in circulation until 1919.

The change in the name of the change coin could have both cultural and practical significance for Ukrainians. If the new term 'shag' takes hold, it will become a symbol of the revival of the ancient Ukrainian tradition in the monetary system and may encourage more active use of coins in everyday transactions.