1996 Ukrainian monetary reform

Ukrainian banknotes before and after the 1996 monetary reform

Obverse of a 100,000 karbovantsiv banknote, withdrawn following the reform

Obverse of a one hryvnia banknote, placed into circulation following the reform at a rate of 100,000 karbovantsiv

This article is part of a series about Leonid Kuchma
Political positions [uk] Family and personal life PA Pivdenmash Ukrainian oligarchs Dnipropetrovsk Mafia 2nd Prime Minister of Ukraine (government) Privatisation [uk] Decrees [uk] 1990s Donbas miners' strikes 2nd President of Ukraine Presidency [uk] Inaugurations [uk] Multi-Vector Policy First term (1994–1999) Constitution Denuclearisation Budapest Memorandum United States v. Lazarenko Monetary reform (1996) Russian–Ukrainian Friendship Treaty Second term (1999–2004) Constitutional referendum (2000) Siberia Airlines Flight 1812 (2001) Tuzla Island conflict (2003) Iraq War European Union integration NATO integration Post-presidency Minsk agreements Controversies and protests Funeral of Patriarch Volodymyr Assassination of Yevhen Shcherban Death of Viacheslav Chornovil Murder of Georgiy Gongadze Cassette Scandal Ukraine without Kuchma Rise up, Ukraine! Orange Revolution Governments Masol II Marchuk Lazarenko Pustovoitenko Yushchenko Kinakh Yanukovych I Elections 1990 1994 parliamentary presidential 1998 1999 2002 Media gallery
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The 1996 Ukrainian monetary reform was carried out from 2 to 16 September 1996, and oversaw the replacement of the Ukrainian karbovanets with the new Ukrainian hryvnia in accordance with the Constitution of Ukraine, adopted the same year. Karbovantsiv were exchanged for hryvnias at a rate of 100,000 to 1, with exchanges continuing freely until 1998. The monetary reform helped to launch the political career of Viktor Yushchenko, who oversaw the monetary reform in his capacity as head of the National Bank of Ukraine.