The Verkhovna Rada supported in the first reading a bill on renaming the fractional coin "kopek" to "shah". 264 people's deputies voted to adopt the bill as a basis, writes "UNIAN".
Deputies also voted to return to the parliament chamber on December 27 to adopt the law in its entirety.
"Changing the name of the fractional coin "kopek" (one hundredth part of a hryvnia) to the historically substantiated and inherently Ukrainian name "shah" will allow the revival of Ukraine's national traditions in money denomination and complete the monetary reform initiated in 1996," states the explanatory note to the bill.
It is noted that after the introduction of 50 shah fractional coins into circulation by the National Bank, the simultaneous withdrawal of 50 kopek coins from monetary circulation is not planned, as of September 1, 1.4 billion pieces of coins of this denomination were in cash circulation.
Coins of the new and old designs will circulate in parallel. Accordingly, according to NBU estimates, no additional costs will arise related to the disposal of 50 "kopek" coins and the production of 50 shah fractional coins to replace them. The costs associated with the production of 50 "shah" fractional coins are operational costs in accordance with the planned volumes of their production for 2025.
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