Convert USA Dollar (USD) to Ukrainian Hryvnia (UAH)

The hryvnia, sometimes hryvnya (Ukrainian: гривня, pronounced ) or (Russian pronunciation) grivna; code: UAH), has been the national currency of Ukraine since September 2, 1996. It replaced the karbovanets at the rate of 1 hryvnia = 100,000 karbovantsiv. The hryvnia is subdivided into 100 kopiyok. To compare the price of Ukrainian Hryvnia (UAH) to other currencies you can use the following currency converter.

Example of Ukrainian Hryvnia (UAH)

Banknotes of Ukrainian Hryvnia (UAH)

In 1996, the first series of hryvnia banknotes was introduced into circulation by the National Bank of Ukraine. They were dated 1992 and were in denominations of 1, 2, 5, 10 and 20 hryven’. The design of the banknotes was developed by Ukrainian artists Vasyl Lopata and Borys Maksymov. One hryvnya banknotes were printed by the Canadian Bank Note Company in 1992. Two, five and ten hryvnya banknotes were printed two years later. Until introduction into circulation the banknotes were kept in Canada. Banknotes of the first series in denominations of 50 and 100 hryven' also existed but due to some reasons they were never introduced.

Also in 1996, the 1, 50, and 100 hryvnia notes of the second series were introduced, with 1 hryvnia dated 1994. The banknotes were designed and printed by British De La Rue. Since the opening of the Mint of the National Bank of Ukraine in cooperation with De La Rue in March 1994 all banknotes have been printed in Ukraine.

Later, highest denominations were added. The 200 hryvnia notes of the second series were introduced in 2001, followed by the 500 hryvnia notes of the third series in 2006.
All hryvnia banknotes issued by the National Bank continue to be a legal tender. As of 2008, the banknotes of early series can rarely be found in circulation.

Exchange rates of Ukrainian Hryvnia (UAH)

Official NBU exchange rate at moment of introduction UAH 1.76/USD 1.
In the period from 21 April 2005 through 21 October 2008 the official exchange rate remained stable at around UAH 5/USD 1. Since then the hrivnia abruptly lost one-third of its value, dropping to around UAH 7.5/USD 1 by mid-December 2008.

Economy of Ukraine

The economy of Ukraine is an emerging free market, with a gross domestic product that has experienced rapid growth in recent years. Ukraine's economy is ranked 45th in the world according to 2008 GDP (nominal) with the total nominal GDP of 399.866 billion USD (2007 est.), and 8,624 USD GDP per capita (2007 est.). Formerly a major component of the economy of the Soviet Union (both in industry and agriculture), the country's economy experienced major recession during the 1990s, including hyperinflation and drastic falls in economic output; GDP growth was first registered in 2000, and reforms are continuing. In 2007 the economy continued to grow and posted real GDP growth of 7%.

However Ukraine was greatly affected by the economic crisis of 2008 and as a result the World Bank expects Ukraine`s economy is to shrink 15% in 2009 with inflation being 16.4%. The Ukrainian government predicts GDP growth of 0.4% in 2009 and a slowdown in inflation to 9.5% (also in 2009), although the overwhelming majority of economists consider this forecast to be excessively optimistic . In 2008 the hryvnia (Ukraine's currency) has dropped 38% against the US dollar, eclipsed only by the Icelandic krona and the Seychelles rupee. According to a forecast by the State Employment Center unemployment in Ukraine will triple to 9% in 2009 (there was 3% unemployment at the end of 2008), which would mean about 3 million people will apply for employment services.