Ukrainian hryvnia

Ukrainian hryvnia

українська гривня Template:Uk icon
File:1-hryvnia-Ukraine.JPG 100 hryven' (гривень) 1 hryvnia (гривня)
ISO 4217
Code	UAH (numeric: 980)
Subunit	0.01
Unit
Plural	hryvni (гривні, nom. pl., from 2 to 4), and hryven’ (гривень, gen. pl. above 5)
Symbol	₴‎
Denominations
Subunit
1/100	kopiyka (копійка)
Plural
kopiyka (копійка)	kopiyky (копійки, nom. pl., from 2 to 4), kopiyok (копійок, gen. pl. above 5)
Banknotes	1, 2, 5, 10, 20, 50, 100, 200, 500 hryven'
Coins	1, 2, 5, 10, 25, 50 kopiyok, 1 hryvnia
Demographics
User(s)	Ukraine
Issuance
Central bank	National Bank of Ukraine
Website	www.bank.gov.ua
Valuation
Inflation	11.6%
Source	The World Factbook, 2006

The hryvnia (sometimes hryvnya; Ukrainian: гривня; IPA: [hrĭv'njä]) 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.

Name

Etymology

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 and Bulgarian грива, "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 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. 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).

Plural

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).

Currency sign

Hryvnia currency sign

The hryvnia sign is a cursive Ukrainian letter He, 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 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. 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 such as Windows Vista.

History

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

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.

Currently Circulating Coins [1]
Image		Value	Technical parameters				Description			Date of first minting
Reverse	Obverse		Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
File:1-kopiyka-Ukraine.JPG		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
File:10-kopiyok-Ukraine.JPG		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
File:1-hryvnia-Ukraine.JPG		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. For table standards, see the coin specification table.

Banknotes

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’. A second series of notes was also issued in 1996, some of which were dated 1994. This series included 50 and 100 hryven’ notes. 200 hryven’ notes were introduced in 2001, followed by 500 hryven’ notes in 2006.

Second Series [2]
Image		Value	Dimensions	Main Colour	Description		Date of
Obverse	Reverse				Obverse	Reverse	first printing	issue
[3]	[4]	1 hryvnia	133 × 66 mm	Green and brown	Vladimir the Great	Ruins of Chersonesos	1994	September 2, 1996
[5]	[6]	2 hryvni		Brown	Yaroslav the Wise	The Saint Sophia Cathedral in Kiev	1995	September 1, 1997
[7]	[8]	5 hryven'		Blue	Bohdan Khmelnytsky	A church in the selo (village) of Subotiv.	1994
[9]	[10]	10 hryven'		Brown and yellow	Ivan Mazepa	The Holy Dormition Cathedral of the Kievo-Pecherska Lavra
[11]	[12]	20 hryven'		Brown and green	Ivan Franko	The Lviv Opera Theater	1995
[13]	[14]	50 hryven'		Yellow and violet	Mykhailo Hrushevsky	The building of the Verkhovna Rada	None	September 2, 1996
[15]	[16]	100 hryven'		Rose and green	Taras Shevchenko (young portrait)	The Saint Sophia Cathedral in Kiev
File:200-Hryvnia-Ukrainka-front.gif	File:200-Hryvnia-Ukrainka-back.gif	200 hryven'		Blue	Lesya Ukrainka	The Entrance Tower of Lutsk Castle		August 22, 2001
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Third Series [17]
Image		Value	Dimensions	Main Colour	Description		Date of
Obverse	Reverse				Obverse	Reverse	first printing	issue
File:1-Hryvnia-2003-front.jpg		1 hryvnia	118 × 63 mm	Grey	Vladimir the Great	The fortress wall of Volodymyr in Kiev	2004	December 1, 2004
File:1-Hryvnia-2006-front.jpg	File:1-Hryvnia-2006-back.jpg	1 hryvnia		Yellow-blue			2006	May 22, 2006
File:2-Hryvnia-2004-front.gif	File:2-Hryvnia-2004-back.gif	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
File:Hrushevsky 50 hrn.JPG	File:50-Hryvnia-Hrushevsky-back.gif	50 hryven'	136 × 72 mm	Violet	Mykhailo Hrushevsky	The building of the Verkhovna Rada	2004	March 29, 2004
	File:100-Hryvnia-Franko-back.jpg	100 hryven'	142 × 75mm	Olive	Taras Shevchenko (old 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	Purple	Hryhoriy Skovoroda	The building of Kyiv Mohyla Academy	2006	September 15, 2006
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

File:Biatlon UA.jpg

A commemorative 1 hryvnia coin to biathlon of the 1998 Winter Olympics, held in Nagano, Japan.

Current UAH exchange rates
From Google Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD RUB
From Yahoo! Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD RUB
From XE.com:	AUD CAD CHF CNY EUR GBP HKD JPY USD RUB
From OANDA:	AUD CAD CHF CNY EUR GBP HKD JPY USD RUB

"Official exchange rate". National Bank of Ukraine.

"Hryvnia market rate". Financial Times.

See also

• Economy of Ukraine

References

• Chester L. Krause & Clifford Mishler (1991). Colin R. Bruce II (ed.). Standard Catalog of World Coins: 1801-1991 (18th ed. ed.). Krause Publications. ISBN 0-87341-150-1. {{cite book}}: |edition= has extra text (help)

External links

• History of Hryvnia
• National Bank of Ukraine announcement of Hryvnia Sign Template:Uk icon
• Proposed symbols for hryvnia during design competition
• Pictures of hryvnia bills introduced in 1997
• First Ukrainian Money
• Ukraine monetary reform. Numismatics Template:Ru icon
• How hryvnia was born Template:Ru icon
• Coins of former Soviet republics