1996 - the year when Ukraine received its own currency, the name of which is the hryvnia (UAH).
Introduction Background
The declaration of sovereignty of Ukraine in 1990 and the declaration 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 government, to introduce the symbols of statehood: anthem, flag, coat of arms. One of the most important elements of the formation was also an early transition to its own currency. But to quickly implement grandiose plans was not possible.
Until 1992, Soviet rubles were in circulation in Ukraine. But it was impossible to get supplies only with their help (especially when purchasing scarce goods). In addition to them, special cutting coupons had to be attached. Some of these products already had a watermark protection system.
Difficulties
New January, 1992, presented the Ukrainians with a prototype of their own currency - temporary coupons, also called coupon-carbovans. It was planned to use them no more than a year, but the implementation of a good idea dragged on for months.
In the early nineties on the territory of Ukraine there was still no equipment capable of qualitatively printing such a complex order as the national currency. The solution was found by concluding agreements with the mints of Canada and France.
Valuable cargo was transported to Kiev by air and ships. The best employees of the Alpha Special Purpose Unit accompanied the transport.
Features
The letter code is UAH. What is this currency and what are its prospects for the future? Experts of that time were at a loss to answer.
UAH - what is this currency, then it was known only to a narrow circle of people.
The currency symbol was selected during a special competition. Two parallel lines mean stability, they are widely used by National banks of the world when printing national currencies, in particular, the European Union and Japan.
The official reduction is UAH. All other options like hryvnia., Hvn. and c. are considered inadmissible to use. Perhaps a separate application of the accepted letter abbreviation UAH. What kind of currency is today known far beyond the borders of Ukraine.
Putting into circulation
Despite the fact that the first consignments of new banknotes arrived at warehouses near Kiev back in 1992, money was released into free circulation in 1996 by a decree of the President of Ukraine Leonid Kuchma from August twenty-fifth. Already in September, an exchange of Carbovans began. The course was one hundred thousand old money to one new hryvnia.
This period was remembered by the Ukrainian people as long bursts to the doors of banks and savings banks.
Formally, the exchange continued until 1998. But a very large number of the population could not deliver their savings on time, and they burned out.
The exchange rate of UAH to ruble in September 1996 amounted to one to three, to the dollar - a little less than two Ukrainian units. This course lasted until the 1998 crisis .
In 2004, for one dollar they gave about five hryvnias, in 2008 - eight. At the moment, the rate fluctuates around twenty-two hryvnia for one US dollar.
In general, it can be said that the Ukrainian currency is not very profitable for investment due to strong devaluation risks.
Conclusion
Now you know what the abbreviation UAH is, what kind of currency it is. Which, by the way, has been repeatedly recognized as the most beautiful in the world.
In the next - 2016, the national Ukrainian currency will celebrate its twentieth 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 precarious position. And the further course depends solely on the competent steps of the Ukrainian government to develop the economy and the right choice of allies.