Photo from UNIAN
The coins can be exchanged free of charge at banks within three years.
Ukrainians will not be able to use coins of small denomination of 1, 2 and 5 kopiykas for cash settlements from today, October 1, due to their withdrawal from circulation.
The National Bank of Ukraine (NBU) advises against panic since the coins can be exchanged free of charge within three years: in all branches of Ukrainian banks until September 30, 2020; and in the National Bank, as well as in branches of Oschadbank, PrivatBank and Raiffeisen Bank Aval until September 30, 2022.
According to the regulator, the coins withdrawn will be disposed by destroying their images and re-melting.
The central bank also recommended using rounding of the purchase amount in cash receipts to simplify payments.
In addition, the NBU noted the gradual withdrawal from circulation of coins in denomination of 25 kopiykas. However, they still remain legal in cash settlements.
As UNIAN reported earlier, in June 2019, the National Bank decided to withdraw coins in denomination of 1, 2, and 5 kopiykas from circulation on October 1. In addition, the regulator plans to print first five million banknotes of the new 1,000-hryvnia denomination at the first stage, which is scheduled for October 25.
Currently in circulation are banknotes of the following denominations: 1, 2, 5, 10, 20, 50, 100, 200, and 500 hryvnias, as well as coins in denominations of 1, 2, 5, 10, 25, 50 kopiykas, as well as newly introduced 1- and 2-hryvnia coins.