EBA Retail Committee members have a huge problem with the lack of coins of small denominations. This entails difficulties in conducting business and working with consumers. Until now, retail have been looking for different ways to get out of this situation: from transferring change to buyers’ loyalty cards (if any) up to rounding up the prices of goods. However these options are not correct, since they are not regulated at the legislative level, and a consumer has the right to demand the handing over of the smallest coins.
Companies have repeatedly appealed to the National Bank of Ukraine with proposals to resolve the current situation. Finally, today, a working meeting was held with representatives of the NBU, banks and retail chains to regulate the circulation of coins of small denominations. It was proposed to issue a resolution of the NBU Board, which would regulate this issue at the legislative level.
The EBA supports the efforts of the NBU aimed at improving the circulation of cash and confirms its readiness to continue work in this direction.