Ukrainian hryvnia
![]() | You can help expand this article with text translated from the corresponding article in Ukrainian. (August 2012) Click [show] for important translation instructions.
|
українська гривня Template:Uk icon | |||||
---|---|---|---|---|---|
| |||||
ISO 4217 | |||||
Code | UAH (numeric: 980) | ||||
Subunit | 0.01 | ||||
Unit | |||||
Plural | hryvni (гривні, nom. pl., after numbers ending with 2,3,4, but not with 12,13,14), and hryven’ (гривень, gen. pl., after other numbers) | ||||
Symbol | ₴ | ||||
Denominations | |||||
Subunit | |||||
1/100 | kopiyka (копійка) | ||||
Plural | |||||
kopiyka (копійка) | kopiyky (копійки, nom. pl., after numbers ending with 2,3,4, but not with 12,13,14), kopiyok (копійок, gen. pl. after other numbers) | ||||
Banknotes | 1, 2, 5, 10, 20, 50, 100, 200, 500 hryven' | ||||
Coins | 1, 2, 5, 10, 25, 50 kopiyok, 1 hryvnia | ||||
Demographics | |||||
User(s) | ![]() | ||||
Issuance | |||||
Central bank | National Bank of Ukraine | ||||
Website | www.bank.gov.ua | ||||
Valuation | |||||
Inflation | 3% (2012 est.) | ||||
Source | Bloomberg, 6 March 2012 |
The hryvnia, sometimes hryvnya or grivna (Ukrainian: гривня, pronounced [ˈɦrɪu̯ɲɑ], abbr.: грн (hrn in Latin alphabet)); sign: ₴, code: (UAH), has been the national currency of Ukraine since September 2, 1996. The hryvnia is subdivided into 100 kopiyok. In medieval times, it was a currency of Kievan Rus'.
Name
Etymology
The currency of Kievan Rus' in the eleventh century was called grivna. The word is thought to derive from the Slavic griva; c.f. Ukrainian, Russian, Bulgarian and Serbian грива / griva, meaning "mane". It may have indicated something valuable worn around the neck, usually made of silver or gold; 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. Ukrainian hryvenyk (гривеник), Russian grivennik (гривенник, "10-kopek piece"). Also, there is a possibility that the word is derived from a Lithuanian (Ukraine used to be part of the Grand Duchy of Lithuania) "grynas pinigas" or "gryni pinigai" (cash), where "gryni" means "cash, pure gold" and it derives from "grynas auksas" (pure gold). Also, "grynuolis" (Lithuanian) means "nugget". Same meaning "pure gold" is derived from Kazakh, Kyrgyz and Uzbek currencies called Som or Sum, which also means "pure (gold)". Lithuania, although not related to the Slavic cultures, also used to have currency called "Auksinas", which means (gold, golden or gulden). Other smaller currency units were nogata (ногата, pelt of a large animal such as a bear or а wolf), kuna (куна, pelt of a small animal such as a mink or а sable; c.f. Croatian kuna). The smallest unit was veksha (векша, squirrel pelt).
The modern Ukrainian hryvnia is sometimes transliterated as hryvna, hrivna, gryvna or grivna, due to its Russian language counterpart, гри́вна, pronounced grívna. However, the standard English name for the currency is hryvnia.[1]
The National Bank of Ukraine has recommended that a distinction be made between hryvnia and grívna in both historical and practical means.[citation needed]
Plural
The nominative plural of hryvnia is hryvni (Ukrainian: гривні). This is also the genitive singular of hryvnia, while the genitive plural is hryven′ (Ukrainian: гривень). In Ukrainian, the genitive singular 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’"); for numbers ending with 1 the nominative singular form is used, for example dvadtsiat’ odna hryvnia (двадцять одна гривня, "21 hryvnia"). An exception for this rule is numbers ending in 11, 12, 13 and 14 for which the genitive plural is also used, for example, dvanadtsiat’ hryven’ (дванадцять гривень, "12 hryvnia"). The singular for the subdivision is копійка (kopiyka), the nominative plural is копійки (kopiyky) and the genitive is копійок (kopiyok). All these rules also apply in Polish, Russian and the most of other Slavic languages.
Currency sign
![Hryvnia currency sign](http://upload.wikimedia.org/wikipedia/commons/thumb/4/46/Hryvnia_symbol.svg/50px-Hryvnia_symbol.svg.png)
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 €. The sign was encoded as U+20B4 in Unicode 4.1 and released in 2005.[2] It is now supported by the latest computer systems. It is still rarely used in Ukraine; instead, the abbreviation "грн." is preferred [citation needed].
History
![](http://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Hryvnia1918.jpg/220px-Hryvnia1918.jpg)
A currency called hryvna was used in Kievan Rus'. In 1917, after the Ukrainian National Republic declared independence from the Russian Empire, the name of the new Ukrainian currency became hryvnia, a revised version of the Kievan Rus' hryvna. The designer was Heorhiy Narbut.
The hryvnia replaced the karbovanets during the period September 2–16, 1996, at a rate of 1 hryvnia = 100,000 karbovantsiv. The karbovanets was subject to hyperinflation in the early 1990s following the collapse of the USSR.
To a large extent, the introduction of hryvnia was secretive.[3] Hryvnia was introduced according to President's Decree dated August 26, 1996, published on August 29. During the transition period, September 2–16, both hryvnia and karbovanets were used in circulation, but merchants were required to give change only in hryvnias. All bank accounts were converted to hryvnia automatically. During the transition period, 97% of karbovanets were taken out of circulation, including 56% in the first 5 days of the currency reform.[3] After September 16, 1996, the remaining karbovanets were allowed to be exchanged to hryvnias in banks.
The hryvnia was introduced during the period when Victor Yushchenko was the Chairman of National Bank of Ukraine. However, the first banknotes issued bore the signature of the previous National Bank Chairman, Vadym Hetman, who resigned back in 1993, because the first notes had been printed as early as 1992 by the Canadian Bank Note Company, but it was decided to delay their circulation until the hyperinflation in Ukraine was brought under control.
Initially, the foreign exchange rate was UAH 1.76 = USD 1.00. Following the Asian financial crisis in 1998 the currency devaluated to UAH 5.6 = USD 1.00 in February 2000. Later, the exchange rate remained relatively stable at around 5.4 hryvnias for 1 US dollar and was fixed to 5.05 hryvnias for 1 US dollar from 21 April 2005 until 21 May 2008. In mid-October 2008 rapid devaluation began with the hryvnia dropping 38.4% from UAH 4.85 for USD 1 on 23 September 2008 to UAH 7.88 for USD 1 on 19 December 2008.[4] After a period of instability, a new peg of 8 hryvnias per US dollar was established, and remained for several years. In 2012, the peg was changed to a managed float (much like that of the Chinese yuan) as the euro and other European countries' currencies weakened against the dollar due to the problems in Greece, and the value in mid-2012 was about 8.14 hrn per dollar.
Coins
Coins were first struck in 1992 for the new currency but were not introduced until 1996. The coins were initially produced by the Luhansk Cartridge Factory,[5] as well as by the Italian Mint.[6] 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 | ||
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 (1992–1996) and stainless steel (2001-) | ||||||
![]() |
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 (1992–1996) and aluminium bronze (2001-) | 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. |
![]() | This section needs expansion. You can help by adding to it. (June 2011) |
Banknotes
In 1996, the first series of hryvnia banknotes was introduced into circulation by the National Bank of Ukraine. They were dated 1992 and were in denominations of 1, 2, 5, 10 and 20 hryven’. The design of the banknotes was developed by Ukrainian artists Vasyl Lopata and Borys Maksymov.[5][7] One hryvnya banknotes were printed by the Canadian Bank Note Company in 1992. Two, five and ten hryvnya banknotes were printed two years later. Until introduction into circulation the banknotes were kept in Canada.[5]
Banknotes of the first series in denominations of 50 and 100 hryven' also existed but due to some reasons they were never introduced.
Also in 1996, the 1, 50, and 100 hryvnia notes of the second series were introduced, with 1 hryvnia dated 1994. The banknotes were designed and printed by British De La Rue.[6] Since the opening of the Mint of the National Bank of Ukraine in cooperation with De La Rue in March 1994 all banknotes have been printed in Ukraine.[6]
Later, highest denominations were added. The 200 hryvnia notes of the second series were introduced in 2001, followed by the 500 hryvnia notes of the third series in 2006.
All hryvnia banknotes issued by the National Bank continue to be a legal tender. As of 2008, the banknotes of early series can rarely be found in circulation. Also, despite the devaluing of the currency since its introduction, all kopeck coins remain in circulation, as well as all low-value hryvnia bills, including 1 hryvnia. As with the U.S. dollar, the 1 hryvnia bill is commonly used, and the 1 hryvnia coin is rarely seen. The 100 hryvnia denomination is quite common due to its moderately high value, much as with the US$20 bill.
First Series
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 I of Kiev | 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 pixel per millimetre. For table standards, see the banknote specification table. |
Second Series
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 I of Kiev | 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 Kiev Pechersk 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 | Not indicated on the banknotes | 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 pixel per millimetre. For table standards, see the banknote specification table. |
Third Series
Denomination [4] | Image | Main colour | Obverse | Reverse | Date of issue | |
---|---|---|---|---|---|---|
1 hryvnia 118 x 63 mm |
![]() |
![]() |
Yellow-blue | Vladimir I of Kiev (c. 958 – 1015), Prince of Novgorod and Grand Prince of Kiev Ruler of Kievan Rus' in (980–1015) |
The fortress wall of Vladimir I in Kiev | May 22, 2006 |
2 hryvni 118 x 63 mm |
![]() |
![]() |
Peach | Yaroslav the Wise (c. 978 – 1054), Prince of Novgorod and Grand Prince of Kiev Ruler of Kievan Rus' in (1019–1054) |
The Saint Sophia's Cathedral in Kiev | September 24, 2004 |
5 hryven' 118 x 63 mm |
![]() |
![]() |
Blue | Bohdan Khmelnytsky (c. 1595 – 1657), Hetman of Ukrainia | A church in the selo (village) of Subotiv | June 14, 2004 |
10 hryven' 124 x 66 mm |
![]() |
![]() |
Crimson | Ivan Mazepa (1639 – 1709), Hetman of Ukrainia | The Holy Dormition Cathedral of the Kiev Pechersk Lavra | November 1, 2004 |
20 hryven' 130 x 69 mm |
![]() |
![]() |
Green | Ivan Franko (1856 – 1916), poet and writer | The Lviv Theatre of Opera and Ballet | December 1, 2003 |
50 hryven' 136 x 72 mm |
![]() |
![]() |
Violet | Mykhailo Hrushevskyi (1866 – 1934), politican and statesman | The building of the Tsentralna Rada | March 29, 2004 |
100 hryven' 142 x 75 mm |
![]() |
![]() |
Olive | Taras Shevchenko (1814 – 1861), poet and artist | The Chernecha landscape near Cherkasy and the figures of a kobzar and a guide boy | February 20, 2006 |
200 hryven' 148 x 75 mm |
![]() |
![]() |
Pink | Lesya Ukrainka (1871 – 1913), poet and writer | The Entrance Tower of Lutsk Castle | May 28, 2007 |
500 hryven' 154 x 75 mm |
![]() |
![]() |
Brown | Hryhorii Skovoroda (1722 – 1794), writer and composer | The building of Kyiv Mohyla Academy | September 15, 2006 |
![](http://upload.wikimedia.org/wikipedia/commons/thumb/8/83/Biatlon_UA.png/125px-Biatlon_UA.png)
Exchange rates
Official NBU exchange rate at moment of introduction UAH 1.76/USD 1.[8]
In the period from 21 April 2005 through 21 October 2008 the exchange rate was pegged at around UAH 5/USD 1. In 2008 when global financial crisis hit, the hryvnia was devalued to about 8/USD 1.[9] Because of known economic problem called impossible trinity, having a fixed exchange rate and free movements of capital (i.e. cross-border lending) have undermined National Bank of Ukraine's ability to conduct independent monetary policy.
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 |
Exchange rates in Ukrainian cash currency exchangers USD/UAH EUR/UAH RUB/UAH
"Official exchange rate". National Bank of Ukraine.
"Historical exchange rates". National Bank of Ukraine.
See also
References
- ^ ISO 4217 currency names and code elements
- ^ * Michael Everson's Proposal to encode the HYRVNIA SIGN and CEDI SIGN in the UCS, 2004-04-23
- ^ a b Volodymyr Matvienko. Autograph on Hryvnia. Template:Uk icon
- ^ National Bank of Ukraine, historical exchange rates
- ^ a b c "How hryvnia was born". Podrobnosti.ua Template:Ru icon
- ^ a b c "Hryvnia-Immigrant". Dzerkalo Tyzhnia Template:Uk icon
- ^ "The man who designed Hryvnia".. Dzerkalo Tyzhnia Template:Ru icon
- ^ http://bank.gov.ua/control/uk/curmetal/currency/search?formType=searchFormDate&time_step=daily&date=17.09.1996&execute=%D0%92%D0%B8%D0%BA%D0%BE%D0%BD%D0%B0%D1%82%D0%B8
- ^ http://www.google.com/finance?q=USDUAH
- Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Cuhaj, George S. (editor) (2006). Standard Catalog of World Paper Money: Modern Issues 1961-Present (12th ed.). Krause Publications. ISBN 0-89689-356-1.
{{cite book}}
:|author1=
has generic name (help)
External links
![](http://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png)
- History of Hryvnia
- National Bank of Ukraine announcement of Hryvnia Sign Template:Uk icon
- Proposed symbols for hryvnia during design competition Template:Uk icon
- Pictures of hryvnia bills introduced in 1997
- The first Ukrainian Money (1917-1922) Odessa Numismatics Museum
- Ukraine monetary reform. Numismatics Template:Ru icon
- Ukrainian hryvnia coins catalog information
- Actual Ukrainian hryvnia exchange rates
Preceded by: various |
Currency of Kyivan Rus' 11th century – 15th century |
Succeeded by: various |
Preceded by: Ukrainian karbovanets |
Currency of Ukrainian People's Republic March 1, 1918 – April, 1918 |
Succeeded by: Ukrainian karbovanets Reason: coup d'état (on April 29, 1918) |
Preceded by: Ukrainian karbovanets Reason: coup d'état (on December 14, 1918) |
Currency of Ukrainian People's Republic December, 1918 – November, 1920 |
Succeeded by: Soviet karbovanets Reason: Soviet occupation |
Preceded by: Ukrainian karbovanets Reason: inflation (on September 2, 1996) Ratio: 1 hryvnia = 100 000 karbovanets |
Currency of Ukraine September 2, 1996 – |
Succeeded by: Current |