NBU Governor comments on possible transition from Ukrainian kopiika to shah

The National Bank of Ukraine (NBU) will start preparations and discussions on the design of ‘shah’ coins after Parliament endorses a corresponding draft bill.

The relevant statement was made by NBU Governor Andriy Pyshnyy in an exclusive commentary to Ukrinform.

“After the decision is made, we will, of course, start preparations and discussions on the design of this coin. In fact, this initiative has influenced creative circles so deeply that they come to the National Bank on their own and propose their ideas. And we will be happy to consider them, but for this we must first endorse the idea itself,” Pyshnyy told.

In his words, transitioning from kopiikas to shahs is an important step for consolidating Ukraine’s monetary sovereignty. It will contribute to decommunization, derussification and decolonization of the Ukrainian state.

“This is an important step in order to finally, even in the smallest manifestations, consolidate monetary sovereignty, restore historical justice, and remove the name that until now has related the monetary circulation of Ukraine to Belarus and Moscow. Kopecks remained only there. Unfortunately, Kyiv still does not have a small coin with a specifically Ukrainian name – one hundredth of a fraction of the hryvnia. It is time,” Pyshnyy stressed.

According to him, the NBU expects that the initiative of renaming Ukrainian coins from kopiika to shah will be supported by the Verkhovna Rada of Ukraine.

“I really hope Parliament will endorse these decisions,” Pyshnyy added.

A reminder that the National Bank of Ukraine (NBU) is launching a push to rename Ukrainian coins from kopiika to shah in order to represent history fairly and revive Ukraine’s cash circulation traditions.

In October 2024, NBU Governor Andriy Pyshnyy submitted a proposal to Chairman of the Verkhovna Rada of Ukraine Ruslan Stefanchuk for Parliament to consider the draft bills developed by the National Bank.

Photo: NBU