Ukrainian Hryvnia

About The Ukrainian Hryvnia: The Strong Currency of Ukraine

Quick Facts About the Ukrainian Hryvnia Notes

Country of Origin	Ukraine
Symbol	₴ or грн
Currency Code	UAH
Nick Names
Minor units	kopiyka
Denominations (Banknotes)	₴1, ₴2, ₴5, ₴10, ₴20, ₴50, ₴100, ₴200, ₴500, ₴1,000
Motto
Identification Feature	On the obverse side of ₴1,000 note, you will find the watermark of Volodymyr Vernadskyi who was a historian and scientist.
Issuing Bank	National Bank of Ukraine
In Circulation Since	September 2, 1996

Since September 2, 1996, the hryvnia, which is also spelled hryvnya, has served as the Ukraine’s primary currency. One hundred kopiyok make up one hryvnia. It got its name from a weight measurement system used in Kievan Rus' that originated in the Middle Ages. 1996 was the year that formally marked the adoption of the currency by the country's government. There are several acceptable variations of the name, including hryvnya, grivna, and kopiyka. On the foreign exchange market, the abbreviation for the hryvnia is UAH.

The National Bank of Ukraine, which serves as the country's central bank, is in charge of monetary policy and the economy. It is also responsible for issuing the currency. In circulation currently are banknotes with the following face values: 10, 20, 50, 100, 200, and 500.

The current Ukrainian Hryvnia price is INR (0 🔄) .

History of the Ukrainian Hryvnia

Agriculture and heavy industries helped propel Ukraine to the position of having one of the largest economies in the former Soviet Union.

In 1917, when the Ukrainian National Republic declared its independence from the Russian Empire, the new currency of the country, which was a renamed version of the Kievan Rus' hryvnia, was given the name hryvnia. The karbovanets were exchanged for the hryvnia at a rate of 1 hryvnia to 100,000 karbovantsiv between September 2 and September 16, 1996.

After the collapse of the Soviet Union in the early 1990s, hyperinflation swept over the karbovanets. The introduction of the hryvnia occurred in relative obscurity for the most part. According to a Presidential Decree dated August 26, 1996, the Hryvnia was formally introduced into circulation on August 29, 1996.

After September 16, 1996, any karbovanets that are still in circulation can potentially be exchanged for hryvnia at financial institutions.

Starting in January 2023, the National Bank of Ukraine will begin the process of discontinuing the circulation of paper banknotes for the denominations 5, 10, 20, and 100 hryvnia. These banknotes were developed between the years 2003 and 2007. Newly designed coins and banknotes of a more recent generation will take their place when they are phased out.

Countries Accepting the Ukrainian Hryvnia

Amount in the Ukrainian Hryvnia You Should Carry for Your Trip

The money you spend going to Ukraine, sleeping there, and eating and drinking, while you're there, will all have a big impact on the total cost of your trip. While in Ukraine, your daily budget of ₴304 will allow you to explore the sights and buy souvenirs and other small goods. Travelling in elegance can cost up to ₴1,936 per day, including meals at Michelin-starred restaurants and stay at five-star hotels. For two persons, the trip should cost between ₴750 and ₴4,580.

In Ukraine, the average cost of a hotel room ranges from ₴200 to ₴1,132. The average commuter spends between ₴11 and ₴85, depending on whether they drive or take public transportation.

All in all, you can keep an eye on the live Ukrainian Hryvnia rate value in order to exchange your currency notes.