Ukrainian hryvnia

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Ukrainian hryvnia
українська гривня (Ukrainian)
100 hryven' (гривень) 1 hryvnia (гривня)
100 hryven' (гривень) 1 hryvnia (гривня)
ISO 4217 Code UAH
User(s) Ukraine
Inflation 11.6%
Source The World Factbook, 2006
Subunit
1/100 kopiyka (копійка)
Symbol
Plural hryvni (гривні, nom. pl., from 2 to 4), and hryven’ (гривень, gen. pl. above 5)
kopiyka (копійка) kopiyky (копійки, nom. pl., from 2 to 4), kopiyok (копійок, gen. pl. above 5)
Coins 1, 2, 5, 10, 25, 50 kopiyok, 1 hryvnia
Banknotes 1, 2, 5, 10, 20, 50, 100, 200, 500 hryven'
Central bank National Bank of Ukraine
Website www.bank.gov.ua

The hryvnia (sometimes hryvnya; Ukrainian: гривня; IPA: [ˈɦrɪʋnʲɑ]) has been the national currency of Ukraine since September 2, 1996. It replaced the karbovanets at the rate of 1 hryvnia = 100,000 karbovantsiv. The hryvnia is subdivided into 100 kopiyok. The ISO 4217 codes are UAH and 980.

Contents

The hryvnia was used as currency in Kievan Rus' in the 11th century. The word hryvnia is thought to derive from the Slavic griva; c.f. Russian, Bulgarian and Serbian грива / griva, "mane". Hryvnia may have indicated something valuable worn around the neck, usually made of silver or gold; c.f. Russian grif (гриф , "neck") or c.f. Bulgarian and Serbian grivna (гривна , "bracelet"). Later, the word was used to describe silver or gold ingots of a certain weight; c.f. Russian grivennik (гривенник, '10-kopek piece'). Other smaller currency units were nogata (ногата, 'pelt of a large animal such as a bear or wolf', kuna (куна, 'pelt of a small animal such as a mink or sable; c.f. Croatian kuna). The smallest was veksha (векша, "squirrel pelt").

Hryvnia is sometimes incorrectly transliterated as hryvna, due to its Russian language counterpart, гри́вна, pronounced grívna. The National Bank of Ukraine has recommended that a distinction be made between hryvnia and hryvna in both historical and practical means[citation needed]. Linguistic research was cited as proof that hryvnia refers to medieval currency and hryvna to the woman's decoration of that time (as the Bulgarian grivna mentioned above).

In Ukrainian, the nominative plural form is used for numbers ending with 2, 3, or 4, as in dvi hryvni (дві гривні, "2 hryvni"), and the genitive plural is used for numbers ending with 5 to 9, and 0, for example sto hryven’ (сто гривень, "100 hryven’"). The singular for the subdivision is копійка (kopiyka), the nominative plural is копійки (kopiyky) and the genitive is копійок (kopiyok).

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Former signs
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Hryvnia currency sign

The hryvnia sign is a cursive Ukrainian letter He (г), with a double horizontal stroke, symbolizing stability, similar to that used in other currency symbols such as ¥ or €. Hryvnia is abbreviated "грн." (hrn.) in Ukrainian. The hryvnia sign [may not be rendered in all browsers] was released in March of 2004. The specific design of the hryvnia sign was a result of a public contest[1] held by National Bank of Ukraine in 2003. The bank announced that it would not take any special steps of promoting the sign, but expressed expectations that the recognition and the technical possibilities of rendering the sign would follow.[2] As soon as it was discovered, a proposal to encode it was written. The sign was encoded as U+20B4 in Unicode 4.1 released in 2005. It is now supported by the latest computer systems.

The hryvnia replaced the karbovanets during the period September 2-16, 1996, at a rate of 1 hryvnia = 100,000 karbovantsiv. The hryvnia was introduced during the period that Victor Yuschenko was the head of National Bank of Ukraine. The first banknotes issued have the signature of the previous National Bank head, Vadym Hetman, who resigned in 1993. This is because first notes were printed as early as 1992 by Canadian Bank Note Company and it was decided to delay using them due to hyperinflation that was in Ukraine after USSR's collapse.

Initially, the foreign exchange rate was UAH 1.76 = USD 1.00. But following the Asian financial crisis in 1998 the currency devaluated to UAH 5.45 = USD 1.00. Since that the exchange rate is relatively stable around 5 hryvnias for 1 U.S. dollar.

Coins were first struck in 1992 for the new currency but were not introduced until 1996. In addition to those listed below which were released into circulation, 15 kopiyok coins were struck in both brass and aluminium[citation needed].

Currently Circulating Coins [1]
Image Value Technical parameters Description Date of first minting
Reverse Obverse Diameter Thickness Mass Composition Edge Obverse Reverse
1 kopiyka 16 mm 1.2 mm 1.5 g Stainless steel Plain Ukrainian Trident Value 1992
2 kopiyky 17.3 mm 1.2 mm 0.64 or 1.8 g Aluminium or stainless steel
5 kopiyok 24 mm 1.5 mm 4.3 g Stainless steel Reeded
10 kopiyok 16.3 mm 1.25 mm 1.7 g Brass or aluminium bronze Reeded Ukrainian Trident Value 1992
25 kopiyok 20.8 mm 1.35 mm 2.9 g Reeded and plain sectors
50 kopiyok 23 mm 1.55 mm 4.2 g
1 hryvnia 26 mm 1.85 mm 7.1 or 6.9 g Inscription: "ОДНА ГРИВНЯ", minted year
These images are to scale at 2.5 pixels per millimetre, a standard for world coins. For table standards, see the coin specification table.

In 1996, the first series of hryvnia banknotes was issued by the National Bank of Ukraine. They were dated 1992 and were in denominations of 1, 2, 5, 10 and 20 hryven’. 1, 50, and 100 hryvnia notes of the second series were also issued at the same time, with 1 hryvnia dated 1994.

This series added a new highest denomination, the 200 hryven’ notes introduced in 2001, followed by the 500 hryven’ note of the third series in 2006.

All hryvnia banknotes issued by the National Bank continue to be a legal tender. As of 2007, the banknotes of early series can rarely be found in circulation.

First Series [2]
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue
1 hryvnia 135 х 70 mm Dark green Vladimir the Great Ruins of Chersonesos 1992 September 2, 1996
2 hryvni Brown Yaroslav the Wise Saint Sophia Cathedral in Kiev
5 hryven' Dark blue Bohdan Khmelnytsky A church in the village of Subotiv
10 hryven' Violet Ivan Mazepa Kiev Pechersk Lavra
20 hryven' Yellow and brown Ivan Franko Lviv Opera and Ballet Theater
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table.
Second Series [3]
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue
1 hryvnia 133 × 66 mm Green and brown Vladimir the Great Ruins of Chersonesos 1994 September 2, 1996
2 hryvni Brown Yaroslav the Wise The Saint Sophia Cathedral in Kiev 1995 September 1, 1997
5 hryven' Blue Bohdan Khmelnytsky A church in the selo (village) of Subotiv. 1994
10 hryven' Brown and yellow Ivan Mazepa The Holy Dormition Cathedral of the Kievo-Pecherska Lavra
20 hryven' Brown and green Ivan Franko The Lviv Opera Theater 1995
50 hryven' Yellow and violet Mykhailo Hrushevsky The building of the Verkhovna Rada None September 2, 1996
100 hryven' Rose and green Taras Shevchenko (old portrait) The Saint Sophia Cathedral in Kiev
200 hryven' Blue Lesya Ukrainka The Entrance Tower of Lutsk Castle August 22, 2001
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table.
Third Series [4]
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse first printing issue
1 hryvnia 118 × 63 mm Grey Vladimir the Great The fortress wall of Volodymyr in Kiev 2004 December 1, 2004
1 hryvnia Yellow-blue 2006 May 22, 2006
2 hryvni Brown Yaroslav the Wise The Saint Sophia Cathedral in Kiev. 2004 September 28, 2004
5 hryven' Blue Bohdan Khmelnytsky A church in the selo (village) of Subotiv. June 14, 2004
10 hryven' 124 × 66 mm Crimson Ivan Mazepa The Holy Dormition Cathedral of the Kievo-Pecherska Lavra November 1, 2004
20 hryven' 130 × 69 mm Green Ivan Franko The Lviv Opera Theater 2003 December 1, 2003
50 hryven' 136 × 72 mm Violet Mykhailo Hrushevsky The building of the Tsentralna Rada 2004 March 29, 2004
100 hryven' 142 × 75mm Olive Taras Shevchenko (young portrait) The Chernecha landscape near Cherkasy and the figures of a kobzar and a guide boy 2005 February 20, 2006
200 hryven' 148 × 75mm Pink Lesya Ukrainka The Entrance Tower of Lutsk Castle 2007 May 28, 2007
500 hryven' 154 × 75mm Beige Hryhoriy Skovoroda The building of Kyiv Mohyla Academy 2006 September 15, 2006
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table.
A commemorative 1 hryvnia coin to biathlon of the 1998 Winter Olympics, held in Nagano, Japan.
A commemorative 1 hryvnia coin to biathlon of the 1998 Winter Olympics, held in Nagano, Japan.
Current UAH exchange rates
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Official exchange rate. National Bank of Ukraine.

Hryvnia market rate. Financial Times.

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