Ukraine introduced the hryvnia in 1996 to replace the karbovanets.
The currency change took place from 2 to 16 September 1996, when hryvnia banknotes and kopiyka coins entered circulation. The karbovanets had served as Ukraine’s temporary currency after the country left the Soviet monetary system, but it was heavily affected by hyperinflation.
The name hryvnia comes from a historical monetary and weight unit used in Kyivan Rus’. One hryvnia is divided into 100 kopiykas. The National Bank of Ukraine is responsible for issuing the currency.
The hryvnia’s symbol is derived from the Cyrillic letter “г” and has two horizontal strokes. English-language sources may spell the currency “hryvnia,” while transliterations such as “grivna” also appear. The official ISO 4217 code is UAH.