In October, monetary innovations will be introduced in Ukraine
Next month, two monetary innovations will be introduced in Ukraine.
First, they will stop accepting one, two and five kopiykas coins. Second, a new bill will be introduced.
The head of the NBU Yakiv Smoliy, presenting the innovations, explained: the nominal incomes of Ukrainians have increased, the hryvnia has lost some of its value, so it is no longer practical to print one, two, five hryvnia bills, the Obozrevatel reported.
They wear out quickly and the real purchasing power of these notes is low.
"Due to the increase of income and prices, Ukrainians are not using coins of small denominations, but there was a need for a higher than 500 hryvnias denomination banknote," - the regulator noted.
23 October 2012 10:04