The national currency of independent Ukraine, the hryvnia (UAH), celebrates its 26th ‘birthday’ on September 2. Exactly 26 years ago, on September 2, 1996, the monetary reform began, and within two weeks, the hryvnia replaced the ruble in every settlement. We tell interesting facts about our national currency.
‘It’s not just money embodied in metal or paper. This is an important symbol of Ukrainian statehood, which in terms of its historical and emotional content fully corresponds to the spirit of our country.’
In fact, the hryvnia has a powerful ancient history.
- The hryvnia appeared in the second half of the 12th century in Kyivan Rus. They were oblong silver ingots. Over time, they began to be chopped into smaller parts. That’s how rubles appeared – from the word ‘to cut’.
- Historians believe that hryvnias stopped being produced after the Mongol invasion of Kyiv in 1240.
- But during the revolution of 1917-1921, the Ukrainian currency was restored. It was then, in 1918, that the first hryvnia banknotes appeared.
- During the Soviet occupation, the Ukrainian currency was liquidated. But it was revived in 1996. Then the hryvnia replaced the rouble.
- Then the National Bank withdrew 97% of the issued roubles, which is 327.9 trillion. Then only 3.1 billion UAH were put into cash circulation.
- A 200-hryvnia banknote was put into circulation in 2001, 500 hryvnias appeared in 2006, and 1,000 hryvnias in 2019.
- The first hryvnias were printed in Canada. Nowadays, Ukraine prints its own money.
Source
mc.today