The Ukrainian currency is the hryvnia, its ISO code is “UAH” and its symbol is “₴”. A Hrwynja has 100 kopecks. There are banknotes of 1, 2, 5, 10, 20 50, 100, 200 and 500 hryvnia and coins in denominations of 1, 2, 5, 10, 25 and 50 kopecks and 1 hryvnia.
History of the Ukrainian currency
The Hrvynja currency was only introduced in Ukraine in 1996. However, the name Hrvynja or hryvnia for the money was already in use in the region in the 11th century and there were copper and silver coins of this name. During the time of the Soviet Union, the ruble was the sole currency. With the independence of Ukraine in 1991, the coupon became the country’s provisional currency and with the currency reform, which became inevitable in September 1996 due to the hyperinflation in Ukraine, the hrvynja was introduced as the national currency. However, many Ukrainians still use the ruble when they mean the Hrvynja.
Exchange into the Ukrainian currency
The Ukrainian currency is a so-called domestic currency. It is not freely convertible. This means that it cannot be bought or sold outside of Ukraine. If you travel to Ukraine, you can only exchange your money for hryvnias in the country and it is best to use it up completely or exchange it by the time you leave. Otherwise, difficulties can arise at the border because the export of the national currency is sometimes controlled by the Ukrainian authorities and subsequent re-importation is prohibited.
There are exchange options in almost every bank branch in the country, even in small towns. There are also international ATMs almost everywhere. For security reasons, ATMs from open bank branches should be used if possible unexpected difficulties arise.