The question of how many rubles are in the hryvnia has always worried Russians and Ukrainians, who often cross the border of two states. Recently, it has become even more relevant due to the fact that Ukrainians began to shop more often in Russian online stores, and Russians - in Ukrainian. In addition, the exchange rate must be known to businessmen whose earnings are associated with fluctuations in the value of hryvnia against the ruble. To avoid misunderstandings and exchange money for your own benefit, you need to know how Ukrainian money is converted into Russian and vice versa.
Forward and reverse exchange rates
The national currency of each state is expressed in any other currency using quotes. A direct quote should be distinguished from a reverse or indirect quote. Using direct quotes, foreign currency is expressed in national and takes the form of prices. It displays the amount of currency that falls on one unit of a quoted currency. With an indirect quote, the amount of quoted money per one unit of the meter is determined. Sometimes the exchange rate is expressed in terms of a third currency: such a need arises if the currencies are poorly convertible. This method is called "cross-rate."
Quotation examples
How many rubles is the Ukrainian hryvnia? To answer this question, you need to conduct a direct quote. At the current rate, 1 hryvnia costs about 3.4 rubles. The calculation for 100 hryvnia will look something like this: 100 * 3.4 = 340 rubles. This value will be the answer to the question, how many Russian rubles are in the hryvnia.
And how many Ukrainian hryvnias are in rubles? In fact, the ruble is about 0.35 UAH, or 35 Ukrainian kopecks. To find out how many hryvnias are contained in any other number of rubles, you need to calculate the rate at the reverse quote: 100 / 0.35 = 285.7 rubles. This means that 100 UAH is contained in 285.7 Russian rubles.
The difference between the values for direct and indirect quotes is called margin. The margin when setting the hryvnia to ruble rate is higher than the margin when exchanging any of these currencies for dollars or euros. This is because more convertible currencies have less margin. However, there are many currency pairs for which the margin will be much higher.
Modern fallacies
When the government announces that 1 hryvnia is 3.4 rubles, many interpret this fact from the point of view of reverse quotes. In fact, this approach is incorrect, it contradicts logic. Other people who are not familiar with the intricacies of quotes perceive the reverse course as direct. There are cases when citizens resort to double quotes: first transferring from Ukrainian money to Russian, and then carry out the reverse calculation.
All these misconceptions lead to numerous misunderstandings and financial losses.
The dynamics of the course in recent years
How many rubles in hryvnia was before? At the beginning of the century, i.e. in 2000, 1 hryvnia corresponded to approximately 5.1 rubles. In 2002, the Ukrainian currency reached its maximum point against the Russian one: the average rate was 5.95 rubles. to 1 UAH After 2005, the ratio changed mainly in favor of the ruble. In 2007, 4.83 rubles were already given for 1 hryvnia, and in 2008 3.82 rubles. Such a sharp change was caused by the crisis, which increased the rate of inflation in Ukraine.
Until 2013, inclusive, the hryvnia barely reached the value of 4 rubles. At the turn of 2013 and 2014 there was another sharp change in the exchange rate: now for one unit of Ukrainian currency in exchangers only three times the amount of Russian is requested. The minimum cost of the hryvnia was about 2.7 rubles, but by mid-2014 it had stabilized at 3: 1.
The exchange rate between currencies changes daily. As of July 2014, the average fluctuation in one working day ranged from 1 to 5 points, while each point corresponds to one Russian penny.
When should you change money?
Russians who are planning a trip to Ukraine should take into account: only hryvnias are involved in all household calculations (buying food or souvenirs, paying for travel, etc.). Hryvnia exchange for rubles and vice versa can be made in almost every bank. Those who are just planning their budget for the trip ask questions: if I give 100 rubles, how many hryvnias should I get? As already noted, the approximate ratio now fluctuates around the 1/3 mark (1 hryvnia - 3 rubles). Considering the difference already considered between direct and reverse quotes, it is easy to determine the approximate amounts and plan your budget.
When the question of how many rubles in hryvnia is resolved, the following question arises: where to change the currency? Exchange is best done locally. Leaving Russia, it is difficult to predict in advance how much money will be spent. The situation is always clearing up on the spot. Moreover, there are no problems with currency exchange in Ukraine: there are exchangers at airports, train stations, bank branches and shopping centers. Station and airport exchangers often work around the clock, although the course in them may not be the most profitable.
If the traveler has a payment card, then the procedure becomes even simpler: hryvnias can be withdrawn from Russian cards at ATMs. First you need to clarify the intricacies of this procedure in your bank.
How to know in advance how many rubles are in hryvnia?
On the Internet, you can find a variety of calculators that will help calculate the course. As a rule, they have up-to-date information and can give a more accurate idea of how much money a person will receive as a result of a planned exchange. Even more accurate data can be obtained on the websites of banks that publish fresh courses daily. But not every bank on the site has a calculator, so you need to be prepared to make a calculation manually.