The National Bank of Ukraine on June 3 will put into circulation coins with a denomination of 10 hryvnia, which will gradually replace the corresponding banknotes, the NBU press service reported on April 29. “At the first stage, the National Bank plans to put into circulation over 5 million 10-ruble coins, which will be distributed among the divisions of the National Bank in the regions. Therefore, from June 3, 2020, banks will be able to receive updated banknotes at the National Bank and issue them to their customers.
The National Bank has taken care of the maximum convenience of exchanging the corresponding banknotes for new coins – citizens do not need to specifically exchange 10 hryvnia banknotes for everyday coins of this denomination. They will be able to pay for an unlimited period of time at the same time with new banknotes and preliminary banknotes of this denomination, ”the NBU said. According to the regulator, gradually, as a result of natural wear and tear, 10-hryvnia banknotes will be replaced in circulation with coins.
“New everyday 10 hryvnia coin – small in size, lightweight. Its diameter is 23.5 mm, weight – 6.4 grams. It is made of zinc alloy with nickel plating.
Due to its increased overall dimensions (diameter, thickness and edge), the new 10-hryvnia coin significantly differs from everyday coins of 1, 2 and 5 hryvnias … The reverse of the 10-hryvnia coin depicts a portrait of the Ukrainian hetman Ivan Mazepa; on the obverse in the center, framed by Old Russian ornament, there is the denomination of the coin, “the message says. According to the NBU, as of April 1, 2020, there were 179.3 million hryvnia banknotes in circulation.
In Ukraine, since 2014, the process of optimization and renewal of the hryvnia banknote and coinage has been continuing to ensure mainly circulation of banknotes that are more secure against crumbling and convenience of cash payments. The introduction of new everyday 10 hryvnia coins is expected to complete this process.