UAH (Ukrainian Hryvnia)


Glossary Editor
UAH is the ISO symbol for the Ukrainian Hryvnia. The hryvnia is subdivided into 100 units known as kopiyka. The hryvnia was introduced in 1996, at which time it replaced the existing currency of karbovanets due to the hyperinflation that occurred after the collapse of the Soviet Union. The exchange rate at which the hryvnia replaced the karbovanets was 100,000 karbovanets to 1 hryvnia. Initially, the exchange rate between the hryvnia and the United States dollar was almost 2 hryvnia to 1 dollar; however, the Asian financial crisis caused the hryvnia to be somewhat devalued in 1998, and the exchange rate has since then hovered with some stability at 5 hryvnia to 1 dollar.