Shah instead of kopiika: Ukraine’s National Bank restores historical justice

The National Bank of Ukraine (NBU) proposes changing the name of Ukraine’s smallest denomination coin from “kopiika” to “shah” to “restore historical justice, promote de-russification, and revive national traditions in Ukraine’s currency circulation.”

“After studying the history of Ukraine’s currency circulation, we have come to the unequivocal conclusion that the name ‘kopiika’ for a small denomination coin is essentially a symbol of Moscow’s occupation. Today, the Ukrainian people are reclaiming everything that was unjustly stolen and distorted by Kremlin narratives. It is time to restore justice to the monetary system and cleanse our monetary sovereignty of any affiliation with anything Russian. We have our own, distinctly Ukrainian word for small coins – ‘shah’,” said Andrii Pyshnyi, Head of the National Bank of Ukraine.

The name “shah” has ancient Ukrainian origins and was used both in Ukraine and in the Ukrainian monetary system from the 16th to 17th centuries. “This unique coin name is unknown to other linguistic cultures. It is widely used in classic Ukrainian literature, often appearing in the works of Taras Shevchenko, Lesia Ukrainka, and other writers. During the Ukrainian War of Independence of 1917–1921, currency with the name ‘shah’ was introduced into real circulation and was enshrined at the legislative level. Therefore, reviving this practice is justified by Ukraine’s historical and linguistic tradition,” the National Bank stated.

The innovation will cleanse Ukraine’s currency circulation of Russian influence and also promote de-russification and decolonization, emphasize NBU Money Museum historians.

The National Bank proposes making the necessary legislative changes to implement the initiative. If the public supports the initiative and the Ukrainian Parliament approves the required documents, Pyshnyi believes minting shahs could begin as early as next year.