UAH stands for the Ukrainian Hryvnia, which is the national currency of Ukraine. The Ukrainian Hryvnia is abbreviated as UAH, with UAH being the international currency code used to represent this monetary unit. It is the sole legal tender and medium of exchange in Ukraine.
The Ukrainian Hryvnia is subdivided into smaller units called kopecks. One hryvnia is equivalent to 100 kopecks. The coins in circulation include denominations of 1, 2, 5, 10, 25 and 50 kopecks, as well as 1 and 2 hryvnia. The banknotes come in denominations of 1, 2, 5, 10, 20, 50, 100, 200, 500, and 1000 hryvnia.
The Ukrainian Hryvnia has its origins in ancient Kievan Rus, where it was originally a measure of weight for silver or gold. Over time, it transitioned into a currency and has been the official monetary unit of Ukraine since 1996. The National Bank of Ukraine is responsible for the issuance and regulation of the Ukrainian Hryvnia.
As with any currency, the value of the Ukrainian Hryvnia is subject to fluctuations in the foreign exchange market, influenced by various economic factors and international trade. It serves as a means of facilitating transactions and trade within Ukraine and is accepted as legal tender by businesses and individuals throughout the country.
