The Head of the National Bank of Ukraine, Andriy Pyshny, announced plans to replace the 10 and 50 kopeck coins with new denominations termed «steps». He stated that the term «kopeck» is of Moscow origin and is only used in Moscow, Minsk, and temporarily occupied territories.

This information was reported by a correspondent from the Ukrainian Information Service, referencing an interview with Andriy Pyshny for Ukrainian Radio.

Pyshny emphasized that the transition to «steps» should have occurred right after Ukraine gained independence: a trial batch of such coins was produced in 1992, but there was not enough political will to implement them at that time.

Currently, the National Bank is awaiting approval from the Verkhovna Rada. Once approved, it plans to cease minting kopecks and start issuing coins under the name «step». According to the NBU head, this process will not require additional expenses from the state budget.

Pyshny also noted that the switch to «steps» will not affect the purchasing power of the hryvnia. At present, there are about 14 billion coins in circulation of 10 and 50 kopecks, and every year the NBU is forced to mint at least 20 million such coins.

In Pyshny's opinion, this move will solidify Ukraine's monetary sovereignty and eliminate the use of the term «kopeck» with its Moscow roots. Most former USSR republics have already abandoned this term, and it is time for Ukraine to reclaim the historical name of its currency.