UAH - what is this currency? National monetary unit of Ukraine

1996 is the year when Ukraine received its own currency, the name of which is UAH (UAH).

Prerequisites for introduction

Declaration on the sovereignty of Ukraine in 1990 and the proclamation of independence in 1991, the collapse of the Soviet Union - a chain of events, followed by the formation of a new state.

This meant that it was necessary to completely change the legislative, executive, judicial branches of power, introduce symbols of statehood: a hymn, a flag, a coat of arms. One of the most important elements of formation was also the early transition to its own currency. But it was not possible to quickly implement grandiose plans.

Up until 1992, Soviet rubles were in circulation in Ukraine. But only with their help (especially purchasing scarce goods) it was impossible to buy. In addition to them, special cut-off coupons were to be attached. Some of this product already had a system of protection in the form of watermarks.

Difficulties

January of the new year, 1992, gave Ukrainians a prototype of their own currency - temporary coupons, also called coupon-karbovans. They were to be used no more than a year, but the realization of a good idea dragged on for many months.

At the beginning of the nineties there was not yet equipment on the territory of Ukraine capable of printing such a complex order as the national currency. The solution was found by concluding agreements with the mints of Canada and France.

A valuable cargo was transported to Kiev by airplanes and ships. Transport was escorted by the best employees of the special purpose unit Alfa.

Features

The letter code is UAH. What is this currency and what are its prospects in the future? Experts of that time found it difficult to answer.

UAH - what kind of currency is it, then it was known only to a narrow circle of people.
The currency symbol was selected during a special competition. Two parallel features mean stability, they are widely used by National banks of the countries of the world at printing of national currencies, in particular, they are the European Union and Japan.

Official reduction - UAH. All other options like griev., Hel. And gr. Are considered unacceptable to use. Possible a separate application of the adopted letter reduction UAH. What kind of currency is it today is known far beyond Ukraine.

Putting into circulation

In spite of the fact that the first lots of new banknotes entered warehouses near Kiev in 1992, money was released in free circulation in 1996 by the decree of the Ukrainian president Leonid Kuchma on August 25th. In September, the exchange of the Kabovans began. The rate was one hundred thousand old money to one new hryvnia.

To the Ukrainian people this period was remembered by long turns to the doors of banks and savings banks.

Formally, the exchange continued until 1998. But a very large number of the population could not surrender their savings on time, and they burned down.

The exchange rate of UAH to the ruble in September 1996 was one to three, to the dollar - slightly less than two Ukrainian units. This course lasted until the 1998 crisis .

In 2004, for one dollar, about five hryvnias were given, in 2008 - eight. At the moment, the rate fluctuates around twenty-two hryvnia for one American dollar.

In general, we can say that the Ukrainian currency is not very profitable for investment due to strong devaluation risks.

Conclusion

Now you know what is the abbreviation UAH, what kind of currency is it. Which, by the way, is repeatedly recognized as the most beautiful in the world.

In the next - 2016, the national Ukrainian currency will celebrate its 20th anniversary.

At the dawn of her birth, she helped fight the chaos of hyperinflation that reigned in Ukraine, and had good prospects for serious strengthening.

But at the moment is in a rather shaky position. And the further course depends solely on the competent steps of the government of Ukraine to develop the economy and the right choice of allies.