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The Verkhovna Rada has approved in the first reading draft law №14093 to rename Ukraine’s smallest currency unit, the kopeck, to “shah”. The bill received support from 264 deputies. Lawmakers also shortened the preparation period for the second reading.
The relevant committee had proposed adopting the law in full immediately, but the inter-factional group led by Razumkov opposed this approach. During the discussion, Danilo Hetmantsev, head of the finance committee, commented: “I am convinced there are higher-priority issues in the country’s financial policy, but our committee recommended passing the bill.”
Some deputies emphasized that the move is not just about money but represents a return to historical continuity and a decolonization of Ukraine’s currency.
The National Bank of Ukraine noted that nearly 14 billion coins are currently in circulation. According to the law, kopecks and shahs will circulate in parallel until the complete withdrawal of kopecks over time.
MP Yaroslav Zheleznyak explained that, in practice, only 50-shah coins will continue to be minted for the next 3–4 years, totaling several tens of millions, while larger denominations (over 1 hryvnia) will remain. He added that, due to inflation and currency depreciation, coins—regardless of name—will gradually disappear from circulation.
