UAH (Ukraine Hryvnia)
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Definition of 'UAH (Ukraine Hryvnia)'The currency abbreviation for the Ukraine hryvnia (UAH), the currency for Ukraine. The Ukraine hryvnia is made up of 100 kopiyka and is often presented with a symbol based on the cursive Ukrainian letter "He", which looks like a "3" with a double horizontal stroke through the middle. The double strokes are seen on other currencies such as the euro and the yen because they symbolize stability. |
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Investopedia explains 'UAH (Ukraine Hryvnia)'The hryvnia became the national currency of Ukraine when it replaced the karbovanets at a rate of 100,000:1 in 1996 because of the hyperinflation that occurred in the '90s as a result of the collapse of the Soviet Union. Initially, the currency was introduced at an exchange rate with the U.S. dollar of 1.76 Ukrainian hryvnia to 1 U.S. dollar. Since 1998, when the Asian financial crisis devalued the currency, the exchange rate has remained stable at around 5 hryvnia to 1 U.S. dollar. |
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