Ukrainian currency is the most beautiful in the world

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Ukrainian hryvnia was recently recognized as the most beautiful currency. In addition, such banknotes are among the most durable. The word itself, which is named

Ukrainian currency has a long history. In ancient Russia, hryvnias were silver or gold jewelry or ingots, which were used as a means of circulation. At a later time, this was the name of three- or ten-kopeck coins. The latter were made of silver.

The first attempt to restore the hryvnia occurred during the short period of independence of the Ukrainian Republic - 1917-1918. However, this financial project collapsed after the capture of the country by the Bolsheviks. Sovznaki began to be used on the territory of Ukraine, and then - chervonets and rubles.

After the collapse of the USSR, the governments of the national republics became

gradually get rid of Soviet money. In the winter of 1992, Ukrainians began to use a new currency - coupons or, as they were also called, karbovanets. All these banknotes are the same size. The purchasing power of one coupon was extremely insignificant. In addition, this Ukrainian currency was constantly subjected to seriousdevaluation. Coupon-karbovantsy had a very low level of protection and quickly wiped. For these several reasons, there was a need for a new currency. The monetary reform of 1996 led to the emergence of the hryvnia. One unit of the new currency was accepted as one hundred thousand coupons-karbovanets. The monetary reform was non-confiscatory, thought out in advance. Its holding was civilized and stimulated the confidence of the population in the new currency. On the very first day of the reform, prices, tariffs and wages were converted into hryvnias. It was held for exactly two weeks, until mid-September 1996, and with maximum convenience for the population. Initially, the dollar exchange rate against the hryvnia was 1:1, 76.

For most of its history, the Ukrainian currency has gradually devalued. The hryvnia already in 1998 fell to 3.46 per dollar. In 2003, the ratio of American and

Ukrainian currency was already 1:5, 33. However, there were also bright times for the hryvnia. Under President Yushchenko, the policy of the government and the National Bank was to stabilize the Ukrainian currency. For a long time, the dollar exchange rate against the hryvnia was at the level of 1:5.05. There was even a short period of revaluation of the national currency. In the summer of 2008, one dollar cost 4.6 UAH. But on this bright days for the hryvnia ended. Already in the winter of the same year, the dollar was sold at a price of 6.74 hryvnia. Now the ratio of the American currency and the hryvnia, set by the National Bank, is stable at 1: 7.99. However, according to a number of forecasts, the reduction in Ukraine's gold reserves will negatively affect the exchange rate of its currency. Possibly at the endthis year the dollar will cost 9 hryvnia. The exchange rate of the Ukrainian currency against the ruble is 1:4.04 today. Its possible devaluation this year may affect the ratio to Russian money.

Now the Banknote and Mint of Ukraine is considered one of the best in the world. Back in the nineties, the National Bank created a modern and unique material and technical base for the production of money. Banknote paper, from which the Ukrainian currency is made, is made by the Malynska factory.