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In Ukraine, the National Bank will withdraw denomination coins from circulation. 25 kopecks and hryvnia, which were issued before 2003. As of October 1, 2020, they will no longer be accepted as a means of payment.
This is stated in the OBOZREVATEL material. The fact is that coins with a denomination of 25 kopecks are now almost impossible to change, because previously 1, 2 and 5 kopecks were withdrawn from circulation. For example, if the price of a product is 12 UAH 20 kopecks, then when paying 12 UAH 25 kopecks it will be impossible to get a change of 5 kopecks. The only option is to have a card.
As for the old notes, they hardly fulfill their function as a means of payment. Now in circulation about 1.8% of the total… During the last three years, its volume in circulation has remained practically unchanged. “That is, citizens hardly pay with them, these bills are not charged and are not received by banks. Its withdrawal from circulation will not cause any inconvenience to citizens, while businesses and the state will benefit ”, explains the National Bank.
What to do with money that you will soon stop accepting?
So, as of October 1, 2020, all shops, restaurants, and everyday life must stop accepting old bills and pennies, and the rest until October 16. They must be delivered to the boxes of the banks in Ukraine for their accreditation in the accounts.
Without restrictions and free of charge, you can exchange coins with a denomination of 25 kopecks and old bills introduced into circulation before 2003 for coins and bills of other denominations and designs within the next three years:
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in all Ukrainian banks, within one year from the date of its withdrawal from circulation, until September 30, 2021 inclusive;
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at the National Bank and authorized banks (Oschadbank, PrivatBank, Raiffeisen Bank Aval, FUIB) – within three years from the date of its withdrawal from circulation – until September 30, 2023 inclusive.
As previously reported by OBOZREVATEL, on June 2, 2020, the National Bank of Ukraine put into circulation a new souvenir coin with a face value of 10 UAH. Coin dedicated to a luxury shovel (moth).
