The hryvnia, hryvna, or sometimes gryvnya, has been the national currency of Ukraine since 2 September 1996. The hryvnia is subdivided into 100 kopiyok.
As early as the 8th and 9th centuries, the hryvnia was used as a unit of weight and counting when trading and paying tributes. Later, in various historical periods, the word “hryvnia” acquired different meanings more than once. The hryvnia, hryvna, or sometimes gryvnya, has been the national currency of Ukraine since 2 September 1996. The hryvnia is subdivided into 100 kopiyok. The history of the Ukrainian currency reaches the times of Kievan Rus. The word “hryvnia” originates from the word “grivna” - a neck decoration shaped like a smooth or twisted hoop made of gold or silver, which was also used as a monetary unit in Kievan Rus.
The currency is printed and managed by the National Bank of Ukraine, the country's central bank. According to the bank's website, there was a total of ₴424.2 billion in circulation as of April 1, 2020.6 This amounts to a total of 2.8 billion banknotes and 13.4 billion coins. In 1996, the hryvnia replaced the karbovanets at a rate of 100,000 karbovanets to one hryvnia due to hyperinflation that occurred in the 1990s as a result of the collapse of the Soviet Union. This caused a massive devaluation of the older banknotes, rendering them almost worthless. The currency was initially introduced at an exchange rate with the US Dollar of 1.76 Ukrainian hryvnias to one US Dollar.
Few important points of the Ukrainian Hryvnia
ISO Code: UAH
Central bank: National Bank of Ukraine
Official website: bank.gov.ua
Symbol: ₴
Subunit: kopiyka
The current official exchange rate can be found at the National Bank of Ukraine website.
Hryvnias are required to pay for goods and services in Ukraine. Foreign currency can be exchanged at banks and numerous exchange bureaus throughout the country. Exchange points will often not accept coins, worn or torn bills, or bills less than 10. Credit cards are widely accepted (American Express are not widely accepted) and contactless payment is becoming increasingly popular.
Value of the Ukrainian Hryvnia (As on 21/04/2022)
1 Ukrainian Hryvnia = INR 2.58 (Indian Rupees)
1 Ukrainian Hryvnia = PKR 6.32 (Pakistani Rupees)
1 Ukrainian Hryvnia = BDT 2.94 (Bangladeshi Taka)
1 Ukrainian Hryvnia = USD 0.034 (United States Dollar)
1 Ukrainian Hryvnia= EURO 0.031 (Euro)
You can watch the following videos in YouTube in my channel "CURRENCY UNIVERSE" to know more about Ukraine's Currency. Please note that the videos are in Hindi.
UKRAINE CURRENCY - THE HRYVNIA
INDIA AND UKRAINE CURRENCY COMPARISON
Have any thoughts. Be sure to leave a comment below for any doubts or queries !!
Contact me through Instagram @currencyuniverse (https://www.instagram.com/currencyuniverse)
Last updated on 21/04/2022
Comments