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New rules for rounding totals in cash payments

From July 1st, 2018, new rules for rounding up the total amounts of cash payments will be applied in Ukraine.

1. The National Bank of Ukraine shall stop issuing coinage with denominations of 1, 2, 5 and 25 kopecks. At the same time, all these denominations of exchangeable coins remain in circulation in the future. Cash circulation will not be replenished with new coins of the indicated denominations.

2. Coins with denominations of 1, 2, 5 and 25 kopecks will continue to serve as a means of payment and one UAH will be equal to 100 kopecks also in the future.

3. To simplify calculation, the following rules for rounding the total amount of the purchase are established:

 -Amounts that end from 1 to 4 kopecks are rounded down to the nearest amount, which ends at 0 kopecks;

- Amounts that end from 5 to 9 kopecks, are rounded up to the nearest amount, which ends at 0 kopecks.

4. With non-cash payments, rounding will not be carried out.

More details can be found on the website of the National Bank of Ukraine:


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