The National Bank of Ukraine (NBU) from September 25 authorized banks to round the amounts of cash transactions.

According to a statement on the NBU's website, the decision was made taking into account the proposal of the banking community in connection with the withdrawal of lowest-denomination coins from cash circulation.

"In particular, banks in Ukraine will be able to round off the amounts of cash transactions for each cash document in accordance with the grounds defined by the legislation of Ukraine, and according to the rules established by paragraph 4 of resolution of the Board of the National Bank of Ukraine No. 25 dated March 15, 2018 optimizing the circulation of lowest-denomination coins. The results of rounding are other operating income/expenses of the bank," the NBU said.

According to the report, the relevant requirements are outlined in resolution of the NBU Board No. 117 dated September 24, 2019 amending resolution of the Board of the National Bank of Ukraine No. 82 dated June 20, 2019, which entered into force on September 25, 2019.