- Ukrainian Karbovanets were exchanged for Hryvnia at the rate of KBV 100,000 for 1 Hryvnia;
- The official English language abbreviation for the Hryvnia is UAH;
- The exchange lasted from 2 September through 16 September 1996 with both currencies circulating in parallel;
- Banknotes in the denominations of 1, 2, 5, 10, 20, 50, 100 Hryvnias and coins denominated 1, 2, 5, 10, 25, 50 Kopiykas have been introduced;
- As of 2 September foreign currency trading has only been allowed for Hryvnia;
- The National Bank of Ukraine now fixes the Hryvnia exchange rate on the basis of the Inter Bank Currency Exchange trades. This represents a continuation of the market-based mechanism of exchange. During September 1996 exchange rate was around US $1 = UAH 1.76.
(Decree No 762/9625 of 25 August 1996)
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