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Ukrainian currency, hryvnia turns 21 years old today
15:09, 25 August 2017
Ukrainian currency, hryvnia turns 21 years old today

On this day in 1996, former president Leonid Kuchma issued a decree "On Monetary Reform in Ukraine"

15:09, 25 August 2017

112 Agency

Ukrainian currency, hryvnia, today turns 21 years old. It was on August 25, 1996, President Leonid Kuchma issued a decree "On monetary reform in Ukraine."

Thus, Ukrainian hryvnia and kopiyka (coin) were introduced into circulation. Since September 2, the National Bank has issued banknotes in denominations of 1, 2, 5, 10, 20, 50 and 100 hryvnias and coins with a nominal value of 1, 2, 5, 10, 25 and 50 kopiyka.

Prior to this, since January 1992, coupon-karbovanets operated in Ukraine. After the introduction of the reform, Ukrainians could exchange carbovanets at the rate of 100,000 KRB for 1 UAH. After September 16, two weeks after the hryvnia was put into circulation, the functioning of the karbovanets was stopped in cash.

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