Ukrainian karbovanets

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Ukrainian karbovanets український карбованець (Ukrainian)
5 karbovanets 100000 karbovantsiv
ISO 4217 Code	UAK
User(s)	Ukraine
Subunit
1/100	kopiyka (копійка)
Plural	karbovantsi (nom. pl.), karbovantsiv (gen. pl.)
kopiyka (копійка)	kopiyky (nom. pl.), kopiyok (gen. pl.)
Coins	1, 3, 5, 10, 25, 50 kopiyok, 1 karbovanets
Banknotes	1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 2000, 5000, 10 000, 20 000, 50 000, 100 000, 200 000, 500 000, 1 000 000 karbovantsiv
Central bank	National Bank of Ukraine
Website	www.bank.gov.ua
This infobox shows the latest status before this currency was rendered obsolete.

The Karbovanets (Ukrainian: Карбованець, Karbovanets’, plural: karbovantsi) has been a distinct unit of currency in Ukraine during three separate periods. The name was also used in the Ukrainian language for the Soviet ruble.

Contents 1 History 1.1 First karbovanets 1.2 Second karbovanets (1942-1945) 1.3 Third karbovanets (1992-1996) 2 See also 3 External links

[edit] History

[edit] First karbovanets

During the short independence of the Ukrainian People's Republic between 1917 and 1920, Ukraine issued currency according to a system of 100 shahiv = 1 hryvnia, 2 hryven = 1 karbovanets. The karbovanets was equivalent to the Russian ruble.

[edit] Second karbovanets (1942-1945)

During the Nazi occupation of Ukraine in World War II, the German occupying government Reichskommissariat Ukraine issued banknotes denominated in karbovanets. The banknotes were introduced in June of 1942 in the nomination from 1 to 500 karbovanets. The banknotes were in dark color, carrying all inscripts in German, and a warning in Ukrainian "falsification of banknotes is punished by imprisoning". The notes pictured a girl, a peasant, a miner, a skipper, pretending to be people's money, and Nazi symbols.

The banknotes replaced the Soviet ruble at par and were in circulation between 1942 and 1945.

[edit] Third karbovanets (1992-1996)

In November of 1990, in the time of collapse of the Soviet planned economy, the Ukrainian SSR introduced one-time coupons, which distributed to Ukrainian residents. The coupons were needed in addition to Soviet rubles in order to buy groceries and living essentials.

Since January 10, 1992, the Ukrainian karbovanets replaced the Soviet ruble at par, with the ISO 4217 code being UAK. The banknotes were issued in the nomination of 1, 3, 5, 10, 25, 50, and 100 karbovanets. All 1991 banknotes were of the same design, picturing Lybid from the monument of the founders of Kiev on observe, and the Sophia Cathedral on reverse. The banknotes did not carry individual numbers, or signature. In 1992, the banknotes of 100, 200, 500, 1000 karbovanets were issued, which carried individual numbers, and were better protected to counterfeiting. In 1993, the banknotes of 2,000 and 5,000 were issued. Having similar design as 1992 banknotes, they were the first to carry the Coat of arms of Ukraine. In the same year, banknotes of 10,000, 20,000, 50,000, 100,000 were also introduced into circulation, which were bigger in size, and pictured the Volodymyr Monument on obverse, and Kiev Opera on reverse. Subsequently, banknotes of 200,000 and 500,000 karbovanets were introduced in 1994, and the banknotes of 1,000,000 karbovanets in 1995.

The karbovanets, which suffered from very high inflation, was replaced by the hryvnia in 1996, at a rate of 100,000 karbovantsi = 1 hryvnia. When the hryvnia was introduced in 1996, a 15 day period was in effect from September 2-16, 1996, during which both the karbovanets and hryvnia were in circulation. The use of the karbovanets for all kinds of payments stopped completely after September 1996 and the only accepted currency after was the hryvnia.

A 50 karbovanets banknote of the Ukrainian People's Republic. Ca. 1918.

A 5 karbovanets banknote from the time of the Nazi occupation of Ukraine during World War II. A 1942 issue, obverse.

A 5 karbovanets kupon featuring Lybid, one of the mythological founders of Kiev. An 1991 issue, obverse.

A 100,000 karbovanets (featuring the statue of Volodymyr the Great, a grand prince of Kiev. A 1994 issue, obverse.

[edit] See also

• Ukrainian hryvnia, the national currency of Ukraine since 1996
• Ukrainian shah, historical currency
• Economy of Ukraine

[edit] External links