How many rubles in hryvnia? Correct currency quote

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

The question of how many rubles are in the hryvnia has always worried Russians and Ukrainians, who often cross the border of two states. Recently, it has become even more relevant due to the fact that Ukrainians have become more likely to make purchases in Russian online stores, and Russians - in Ukrainian ones. In addition, the exchange rate needs to be known to businessmen whose earnings are associated with fluctuations in the value of the hryvnia against the ruble. To avoid misunderstandings and exchange money for your own benefit, you need to know how Ukrainian money is converted into Russian and vice versa.

Direct and reverse exchange rates

The national currency of each state is expressed in any other monetary unit using quotes. It is necessary to distinguish direct quotation from reverse, or indirect. With the help of direct quotation, foreign currency is expressed in national currency and takes the form of a price. It displays the amount of currency that falls on one unit of the quoted currency. With indirect quotation, the amount of quoted money per one unit of the meter is determined. Sometimes the exchange rate is expressedthrough a third currency: such a need arises if the currencies are poorly convertible. This method is called "cross rate".

Examples of quotes

How many rubles does the Ukrainian hryvnia cost? To answer this question, you need to conduct a direct quote. At the current exchange rate, 1 hryvnia costs about 3.4 rubles. The calculation for 100 hryvnia will look something like this: 1003, 4=340 rubles. This value will be the answer to the question, how many Russian rubles are in the hryvnia.

And how many Ukrainian hryvnias are in the ruble? In fact, the ruble is about 0.35 UAH, or 35 Ukrainian kopecks. To find out how many hryvnias are contained in any other amount of rubles, you need to calculate the exchange rate using the reverse quote: 100 / 0.35=285.7 rubles. This means that 100 UAH is contained in 285.7 Russian rubles.

The difference between direct and indirect quotes is called margin. The margin when setting the exchange rate of the hryvnia against the ruble is higher than the margin when exchanging any of these currencies for dollars or euros. This is because more convertible currencies have lower margins. However, there are many currency pairs for which the margin will be much higher.

Modern delusions

When the government announces that 1 hryvnia is equal to 3.4 rubles, many interpret this fact in terms of reverse quotes. In fact, this approach is wrong, it contradicts logic. Other people who are not familiar with the intricacies of quotes perceive the reverse rate as a direct one. There are cases when citizensthey resort to double quotes: first transferring from Ukrainian money to Russian, and then they carry out the reverse settlement.

All these misconceptions lead to numerous misunderstandings and financial losses.

Dynamics of the exchange rate in recent years

How many rubles were in the hryvnia before? At the beginning of the century, i.e. in 2000, 1 hryvnia corresponded to approximately 5.1 rubles. In 2002, the Ukrainian currency reached its maximum point against the Russian one: the average rate was 5.95 rubles. to 1 UAH. After 2005, the ratio changed mainly in favor of the ruble. In 2007, 4.83 rubles were already given for 1 hryvnia, and in 2008 - 3.82 rubles. Such a sharp change was caused by the crisis, which increased the rate of inflation in Ukraine.

Until 2013, inclusive, the hryvnia barely reached the value of 4 rubles. At the turn of 2013 and 2014 there was another sharp change in the exchange rate: now for one unit of the Ukrainian currency in exchangers they request only a triple amount of the Russian one. The minimum value of the hryvnia was about 2.7 rubles, but by the middle of 2014 it had stabilized at the level of 3:1.

The exchange rate between currencies changes daily. As of July 2014, the average fluctuation per business day was between 1 and 5 points, with each point representing one Russian kopeck.

When should I change money?

Russians who are planning a trip to Ukraine should take into account: in all household calculations (purchasing food or souvenirs, payingtravel, etc.) only hryvnias are involved. You can exchange hryvnia for rubles and vice versa in almost every bank. Those who are just planning their budget for a trip ask questions: if I give 100 rubles, how many hryvnias should I receive? As already noted, the approximate ratio now fluctuates around the 1/3 mark (1 hryvnia - 3 rubles). Given the difference between direct and reverse quotes already discussed, it is easy to determine the approximate amounts and plan your budget.

When the question of how many rubles in hryvnia is resolved, the next question arises: where to change the currency? The exchange is best done on the spot. Leaving Russia, it is difficult to guess in advance how much money will be spent. On the spot, the situation is always clear. Moreover, there are no problems with currency exchange in Ukraine: there are exchangers at airports, railway stations, bank branches and shopping centers. Station and airport exchange offices often work around the clock, although the rate in them may not be the most profitable.

If a traveler has a payment card, the procedure becomes even simpler: hryvnias can be withdrawn from ATMs from Russian cards. You must first clarify the intricacies of this procedure with your bank.

How to find out in advance how many rubles in hryvnia?

On the Internet, you can find a variety of calculators that will help you calculate the course. As a rule, they have up-to-date information and can give a more accurate idea of how much money a person will receive inas a result of the planned exchange. Even more accurate data can be obtained on the websites of banks that publish daily fresh rates. But not every bank has a calculator on their site, so you need to be ready to calculate manually.