The Ukrainian Hryvnia: A Comprehensive Guide

The Ukrainian Hryvnia is the official currency of Ukraine, introduced in 1996 as a replacement for the karbovanets. It's divided into 100 subunits called kopiykas, but you'll rarely see them used in everyday transactions.

The hryvnia is issued by the National Bank of Ukraine, which is responsible for managing the country's monetary policy. The bank's headquarters are located in Kiev, the capital city.

You can exchange your currency for hryvnia at banks, currency exchange offices, or use an ATM to withdraw local cash. Credit cards and traveler's checks are also widely accepted in Ukraine.

The hryvnia is available in various denominations, including 1, 2, 5, 10, 20, 50, 100, and 200 hryvnia banknotes, as well as 1, 2, and 5 hryvnia coins.

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The Ukrainian hryvnia has some interesting plural forms that can be tricky to get right. The nominative plural of hryvnia is hryvni, while the genitive plural is hryven’.

Numbers ending with 2, 3, or 4 use the nominative plural form hryvni, as in dvi hryvni (дві гривні, "2 hryvni"). For numbers ending with 5 to 9 and 0, the genitive plural form hryven’ is used, for example sto hryven’ (сто гривень, "100 hryven’").

An exception to this rule is numbers ending in 11, 12, 13, and 14, which also use the genitive plural form hryven’. For example, dvanadciat’ hryven’ (дванадцять гривень, "12 hryven’").

Here's a quick reference chart to help you keep track of the different plural forms:

The singular for the subdivision is kopiyka, the nominative plural is kopiyky, and the genitive is kopiyok.

The Ukrainian hryvnia has had a complex history, with its value fluctuating greatly over the years. The official exchange rate was fixed at 5.05 hryvnias for 1 US dollar from 2005 to 2008.

To exchange your currency in Ukraine, you'll find several options, including banks, exchange offices, and hotels. Banks usually offer the best exchange rates, but might not be as convenient as exchange offices or hotels.

The hryvnia was devalued to 7.88 for 1 US dollar in December 2008, and later to 8 hryvnias per US dollar. In 2014, the currency lost about 70% of its value against the US dollar, with the currency reaching a record low of 33 per dollar in February 2015.

Here's a list of exchange rates for the Ukrainian hryvnia against various currencies:

In 2019, the exchange rate strengthened to 24.98 hryvnias for 1 US dollar, the highest level in 3 years.

The Ukrainian hryvnia has a wide range of banknotes and coins in circulation. The first hryvnia banknotes were introduced in 1996 and were printed by the Canadian Bank Note Company.

These early banknotes came in denominations of 1, 2, 5, 10, and 20 hryvnias, and the design was developed by Ukrainian artists Vasyl Lopata and Borys Maksymov. The 1 hryvnia banknote was printed separately by the Canadian Bank Note Company in 1992.

The Ukrainian National Bank has been printing banknotes in Ukraine since 1994, with the help of De La Rue. The 100 hryvnia denomination is quite common due to its moderately high value.

Some of the most common banknotes in circulation include the 1, 2, 5, 10, 20, 50, 100, 200, 500, and 1000 hryvnia denominations. The 1000 hryvnia banknote was introduced in 2019 and is the highest denomination currently in circulation.

Here's a list of the most common hryvnia coins:

These coins can be used alongside their equivalent banknotes in general circulation.

Coins have been a part of Ukrainian currency for centuries, with the first coins made of gold and silver produced during the rule of Grand Prince of Kiev Vladimir the Great in the 11th century.

The design of Ukrainian coins has evolved over time, with the trident becoming a symbol of Ukrainian statehood and sovereignty.

Initially, coins were made in denominations of 1, 2, 5, 10, 25, and 50 kopiyok, and 1 hryvnia. In March 1997, ₴1 coins were introduced.

The first coins of the new hryvnia were issued in 1996, with a total of 12.4 billion coins worth ₴1.4 billion in circulation by July 1, 2016.

The National Bank of Ukraine considered removing the 1 and 2 kopiyky coins in 2012 due to their high production cost. After 2013, they stopped making 1 and 2 kopiyky coins, but you could still use the ones already in circulation until October 1, 2019.

Here's a list of current and discontinued Ukrainian coins:

You can still exchange discontinued coins at banks, but new ones are no longer being produced.

The first series of hryvnia banknotes was introduced in 1996 and featured denominations of 1, 2, 5, 10, and 20 hryvnias.

These banknotes were designed by Ukrainian artists Vasyl Lopata and Borys Maksymov, and the one hryvnia notes were printed by the Canadian Bank Note Company in 1992.

The 50 and 100 hryvnia notes of the second series were introduced in 1996 and were designed and printed by Britain's De La Rue.

Higher denominations, including 200 hryvnia notes in 2001, 500 hryvnia notes in 2006, and 1000 hryvnia notes in 2019, were introduced later.

The 100 hryvnia notes are common due to their moderate value, and 200 and 500 hryvnia notes are also frequently used as they are dispensed by most Ukrainian ATMs.

The 1000 hryvnia banknote was introduced in 2019 to streamline the number of coins and banknotes in circulation.

The 1, 2, 5, and 10 hryvnia banknotes will continue to be legal tender alongside their equivalent coins but will be gradually withdrawn from circulation due to repeated use.

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The hryvnia has a rich and fascinating history that spans over a thousand years. The first coins made of gold and silver in Ukraine were produced during the rule of Grand Prince of Kiev Vladimir the Great in the 11th century, featuring an image of a trident, which became a symbol of Ukrainian statehood and sovereignty.

In the 12th to 14th centuries, Kyiv Rus was weakened by feudal disunity and minted no coins. Instead, silver ingots called hryvnias were used as money during this period.

The hryvnia was revived in the 15th century as the official currency of the Grand Duchy of Lithuania, which included much of present-day Ukraine. This marked a significant turning point in the history of the hryvnia.

In 1917, the Ukrainian People's Republic introduced the karbovanets as its official currency, with the first 100 karbovanets note issued in three languages: Ukrainian, Polish, and Yiddish.

The hryvnia was reintroduced in 1996, replacing the karbovanets at a rate of 100,000 karbovanets to one hryvnia due to hyperinflation caused by the collapse of the Soviet Union.

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Here's a brief timeline of the hryvnia's evolution:

The hryvnia has come a long way since its introduction in 1996, with various denominations and designs being introduced over the years. Today, it is the official currency of Ukraine and is used for all transactions within the country.