Ukrainian Hryvnia

Overview

Economy

• Ukraine is a member of Council of Europe, OSCE, GUAM, Eastern Partnership.
• Main industries include: Coal, Electric power, Ferrous and nonferrous metals, Machinery, Chemicals, Food processing.
• Ukraine is part of the World Trade Organization.
• Imports are energy, machinery, chemicals, transport equipment, textiles.
• Major exports include grain, ferrous and nonferrous metals, fuel and petroleum products, chemicals, machinery, food products.
• GDP: $170.4 billion (2023 est.).
• GDP per capita: $4,534 (2023 est.).
• Unemployment rate: 18.6% (2023 est.).
• Inflation rate: 8.2% (2023 est.).
• Main trading partners: Poland, Romania, Turkey, Germany, China, Hungary.
• Trade agreements: EU-Ukraine Association Agreement, Various bilateral agreements.

History

• Previous currencies used: Soviet ruble, Ukrainian karbovanets.
• The hryvnia was introduced in 1996, replacing the karbovanets. The name comes from a medieval Slavic unit of weight and currency.
• 1991: Independence from Soviet Union
• 1992-1996: Karbovanets period with hyperinflation
• 1996: Hryvnia introduced, stabilizing economy
• 2008: Global financial crisis impact
• 2014: Annexation of Crimea and eastern conflict
• 2022: Russian invasion and wartime economy
• Exchange rate peg: Managed float with wartime controls.

General Information

• ISO 4217 Code: UAH
• Symbols: UAH/₴
• Currency Subunits: 100 kopiyok
• Central Bank: National Bank of Ukraine
• Monetary Policy: Wartime monetary policy with exchange rate stability focus. Capital controls and foreign exchange restrictions in place due to conflict.
• Bills: 1 UAH, 2 UAH, 5 UAH, 10 UAH, 20 UAH, 50 UAH, 100 UAH, 200 UAH, 500 UAH, 1000 UAH
• Coins: 1 kopiyok, 2 kopiyok, 5 kopiyok, 10 kopiyok, 25 kopiyok, 50 kopiyok, 1 hryvnia, 2 hryvnias, 5 hryvnias, 10 hryvnias
• USD Exchange Rate: Variable (approximately 37-38 UAH per USD, wartime controls)
• Pegged To: None (Floating)
• Capital: Kyiv
• Population: 37,860,221 (2023 est., excluding occupied territories)
• Area: 603,550 km²
• Languages: Ukrainian (official), Russian, Romanian, Polish, Hungarian
• Time Zones: UTC+2 (EET), UTC+3 (EEST in summer)
• Government Type: Semi-presidential republic
• Head of Government: President (head of state), Prime Minister (head of government)
• Independence: August 24, 1991 (from Soviet Union)
• Ethnic Groups: Ukrainian 77.8%, Russian 17.3%, Belarusian 0.6%, Moldovan 0.5%, Crimean Tatar 0.5%, Bulgarian 0.4%, Hungarian 0.3%, Romanian 0.3%, Polish 0.3%, Jewish 0.2%, Other 1.8%
• Religions: Orthodox 67.3%, Catholic 7.7%, Protestant 2.2%, Other Christian 0.8%, Jewish 0.4%, Muslim 0.9%, Other 0.8%, None 16%, Unspecified 3.9%
• Literacy Rate: 99.8% (2015 est.)
• Transport: Boryspil International Airport, extensive rail network, road system, Dnipro River transport, Black Sea ports (access limited due to war)
• Communications: Good telecommunications infrastructure, 71% internet penetration, mobile networks (war-affected)
• Energy: Coal 30%, Nuclear 25%, Natural gas 20%, Hydroelectric 15%, Renewables 10% (pre-war estimates)
• Countries Using This Currency: Ukraine
• Data Sources: Central Bank: National Bank of Ukraine (bank.gov.ua), Economic Data: State Statistics Service of Ukraine, World Bank, IMF, Trade Data: State Customs Service of Ukraine, Demographic Data: State Statistics Service of Ukraine, Geographic Data: Ukrainian Hydrometeorological Center, Historical Data: National Bank of Ukraine archives
• Last Updated: 2025