Few things you should know about Ukraine Currency. The monetary reform in Ukraine was carried out on September 2 – 16, 1996 in accordance with the President’s Decree. The National Bank of Ukraine introduced Hryvnia as the monetary unit of our state. It was an event of great importance. The introduction of the Ukraine’s currency – Hryvnia is considering as the starting point for stabilization of the Ukrainian economy. If you’re travelling to Ukraine, you’ll definitely need to know how to operate with local currency how to convert your native currency into local money and figure out the right way to calculate them.
The national currency Hryvnia (UAH) and its one hundredth part – kopiyka was put into circulation. 1 Hryvnya (UAH) = 100 kopiyok. (Singular: kopiyka).
Circulation Coins – 1 Hryvnia = 100Kopiyka. Banknotes come in the following denomination: 1, 2, 5, 10, 20, 50, 100, 200, and 500 Hryvnias. Change coins come in the denomination: 1, 2, 5, 10, 25, 50kopiykas. Change coins of 1 Hryvniadenomination.
Cash can be exchanged:
– at banks
– exchange desks at the hotels
– some shops
– licensed exchange booths in the streets
Tips to convert currency in Exchange Booth.
The most popular currencies in exchange booths are USD and EURO. Be aware, that exchange rates offered are everywhere different. Usually they are better in the central areas of town unless it is not a pure tourist area. The worst exchange rates are at the airports, railroad and bus stations. Please, make sure that all of your banknotes are new and don’t have any writing on them. Otherwise you will be suggest a discount rate or they just refuse to exchange your money.
A few words of precautions.
Count your money in front of the exchange window before you walk away. Be discreet with your cash. Don’t attract too much attention looking for the banknotes you are going to exchange. Prepare them before you come to the exchange window. If somebody at the booth suggests you better exchange rate, please, don’t do it. You can loose your money. Besides that, it is illegal.
Credit and Debit Cards.
Credit cards are not readily accepted. You can use them in expensive restaurants, stores, and hotels only. Besides that, Ukraine is famous for high credit card fraud. I highly suggest using your credit card only when you don’t have any other option to pay.
The most popular Travelers checks in Ukraine are Thomas Cook and Visa. They can be cashed at the bank (1-4 % bank fee), but not every bank (even in Kiev) will accept them. The more problems you will experience while out of the big cities.
There are a lot of ATM machines in every town in Ukraine. They work around the clock and it is a very fast and convenient way to get Ukraine currency. Sorry to say, it is not 100 % secure. It doesn’t mean that any of your transaction will cause money fraud, but the chance to loose your money is pretty high. Perhaps, the best way to use your ATM card is to have two accounts. One, which can’t be accessed by ATM card and where you keep your money. And another one – connected to your ATM card. Once you need cash, transfer it to the second account, as fast as possible go to the nearest ATM machine and take your money right away.Crime in Ukraine is relatively low as for western standards. Most travelers do not encounter problems with crime while in Ukraine. But nothing is ideal in this world. Follow your common sense, and you will be fine. Before you buy your plane tickets to Ukraine, it’d be a very good idea to get some more updates information about some credit card security issues in Ukraine as well as Ukrainian Customs Procedures for Transporting Currencies at official U.S. Embassy website. Also it’s wisely to keep the contact information of U.S. Embassy call-center in Ukraine with you while you are staying in Ukraine. Below is the tool “The Currency Converter” it should help you to figure it out the costs of any products or services you need to pay for in Ukraine comparatively to your local currency.
To make currency exchange for a trip to Ukraine you should understand what is the best way of exchanging currency for your trip. What should you know about exchanging currency for a trip to Ukraine? Please, click the button “For More Info” below this paragraph: