The national Bank of Ukraine has prepared a draft decree on optimization of the circulation of coins of small denominations, which provides for a waiver of the minting of coins in denominations of 1, 2, 5 and 25 kopecks, reported the press service of the NBU.

As noted in the national Bank coins for 1, 2 and 5 kopeks ceased to play a significant role in the calculations of the population for goods and services, and coin 25 kopecks. in the absence of coins of smaller denominations will not be exchanged by 10 kopecks.

“At the same time, all these denominations of small coins will remain in circulation. However, in the future, cash handling will not be updated with new coins with the denominations indicated,” suggests the regulator.

For convenience of calculations, the NBU proposes to establish rounding rules total (check) of the purchase amount, in the absence of coins and the buyer and the seller:

– the amount that ends 1 to 4 kopecks shall be rounded downward to the nearest amount that ends in 0 COP.;

– the amount ends in 5 to 9 kopecks shall be rounded upwards to the nearest amount that ends in 0 COP.

In the case of a buyer of coins of small denominations he in the future they can pay off, and in the case of these coins from the seller, he can give the purchaser the rest of these denominations.

“The entities will be noted in the receipts totals before rounding and after him, in particular, using the mechanism of discounts/allowances. It does not require additional costs for reprogramming of payment transactions. In non-cash payments rounding will not be performed,” suggests the regulator.

Today in Ukraine in circulation is 12.9 billion pieces of coins.

Earlier it was reported that the NBU banned the circulation of Russian banknotes..

NBU proposed to abandon coins and round off amounts in the cheques 16.11.2017

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