Almost “adult”: Hryvnia turned 17!

September 16 marked 17 years since the day when hryvnia became the only legal payment instrument in Ukraine.

By the Decree of the President of Ukraine dd. August 25, 1996 "On the currency reform in Ukraine", the monetary reform took place from 2 to 16 of September 1996, and the national currency of Ukraine – hryvnia and its one hundredth part – kopiyka – was introduced.

The National Bank of Ukraine is constantly improving the security of banknotes. Today, banknotes of the third generation – made in 2003-2007 – are circulating in the country. Denomination number of banknotes of Ukraine currently has 16 denominations, including nine denominations of banknotes and seven denominations of coins. The design of hryvnia banknotes of various denominations features the symbols and themes that represent the history and culture of our people.

Banknotes made in 2003 – 2007, which are now in circulation, compared with the previous banknotes made in 1992 – 1994, depending on the denomination, are distinguished by different sizes and predominant color for better recognition. They have new security features – stained paper, light watermark element, security fibers and two-color fluorescent stripe, a special magnetic code of the security stripe, superior relief printing of some images, by which, inter alia, special signs for people with reduced vision are made, images that are made with optically variable ink and so on.

            The production of banknotes, and the level of their security is a part of the country’s image. In terms of the quality of printing and security level, hryvnia is on par with such world currencies as euro, pound sterling and so on.