hryvnya

currency

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Last updated

July 18, 2026

Quick Summary

The hryvnia (UAH) is the national currency of Ukraine. It was introduced in 1996. The word "hryvnia" originates from Old Russian, where it referred to a necklace, ring, weight, or coin, stemming from the word for "mane".123

During the early 1990s, Ukraine experienced severe currency inflation, which caused hardship for its population. By 1996, economic stability was achieved, with inflation dropping to manageable levels and the economy's decline slowing. The National Bank of Ukraine works to ensure the stability of the hryvnia.2

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Ukraine
Kuchma’s presidency
…introduced its long-awaited currency, the hryvnya. However, the economy continued to perform poorly through the end of the decade. Cumbersome bureaucratic procedures and unenforced economic legislation led business to be both overregulated and rife with corruption. In addition, the country was able to attract only a limited amount of foreign…
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…introduced its long-awaited currency, the hryvnya. However, the economy continued to perform poorly through the end of the decade. Cumbersome bureaucratic procedures and unenforced economic legislation led business to be both overregulated and rife with corruption. In addition, the country was able to attract only a limited amount of foreign…
Read More