Ukraine issues commemorative Euro 2012 coins
National Bank of Ukraine reveals commemorative coins dedicated to the European Football Championship 2012; first ever half-kilo gold coin forms part of the series.
Author: Central Banking Newsdesk
Source: Central Banking | 13 Jun 2012
The National Bank of Ukraine (NBU) has unveiled a series of commemorative coins to celebrate the Uefa Euro 2012 football championships, the finals of which are being held in Ukraine.
The 12 coins depict the municipal arms of Kyiv, Kharkiv, Lviv and Donetsk, the Ukrainian host cities of matches, as well as images of football players and a map of Europe. The coins' face values range from 5 to 500 Ukrainian hryvnia ($0.62 to $62) and they are mostly made of gold and silver. Some coins are also being minted in the elementary metal nickel silver, these will carry a face value of one hryvnia.
The silver coins are sold in sets of five. Four are dedicated to the host cities and one is a general football-themed 20-hryvnia denomination coin. The sets will costs from 3,145 hryvnia. The silver nickel coins will be sold both in sets and separately. A single coin will cost 22 hryvnia.
"The NBU has put into circulation 15,000 coin sets made of silver and 100,000 commemorative coin sets made of nickel silver," says Vira Rychakivska, the deputy chairman of the central bank.
The central bank chose the tournament to be the reason for the first-ever gold coin weighing half a kilo to be issued. The coin has a face value of 500 hryvnia, is made of pure gold (999.9 standard) and will cost 350,245 hryvnia. Only 500 of the special gold coins will be issued.
In another landmark first, the central bank revealed it had issued a coin jointly with the central bank of another country – Poland. The two-ounce coin has dual denomination of 10 hryvnias and 10 złotys. Rychakivska says the idea for the coin came from the Ukrainian central bank.
The coins are being sold at banks and the central bank, as well as from traders near the stadiums where the matches will take place. The coins are legal tender in Ukraine.
In preparation for the tournament, Ukrainian authorities took the step of simplifying the rules for exchanging foreign currency during the final part of the championships. From June 1 to July 10, the changes, as approved by the governor of the central bank Sergiy Arbuzov, will allow free foreign currency exchange for organisers, participants and guests of the championship finals in Ukraine.
"During this period, Ukrainian banks (financial institutions) will make purchases of foreign cash from non-residents without obtaining an appropriate certificate," said the central bank. However, the statement added that it was "assumed" visitors would exchange unused hryvnias for foreign currencies before the end of the period.
Source:
Central Banking
