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1 Karbowanez

Issuer Zentralnotenbank Ukraine
Year 1942
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Value 1 Karbovanets (1 карбованець)
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Obverse description Olive-green note with an intricate guilloche border framing the entire face. The denomination numeral "1" appears in large format at left and right margins in a latticed underprint, with the central panel bearing the German-language inscription "EIN KARBOWANEZ" in bold letterpress above a statement of legal authority referencing the decree of 5 March 1942 and the place and date of issue "ROWNO, den 10. März 1942". The issuing authority "ZENTRALNOTENBANK UKRAINE" is printed below, with a manuscript-style facsimile signature and a red serial number at lower right.
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Reverse lettering ZENTRALNOTENBANK UKRAINE
EIN KARBOWANEZ
GELD-FÄLSCHUNG WIRD MIT ZUCHTHAUS BESTRAFT
ФАЛЬШУВАННЯ ГРОШОВИХ ЗНАКІВ КАРАЄТЬСЯ ТЯЖ-КОЮ ТЮРМОЮ
ОДИН КАРБОВАНЕЦЬ
ЦЕНТРАЛЬНИЙ ЕМІСІЙНИЙ БАНК УКРАЇНИ
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The Zentralnotenbank Ukraine was a German-administered institution established in 1942 specifically to manage currency in the occupied Ukrainian territories. This 1 Karbowanez was among the first denominations issued under that framework, replacing Soviet-era currency at a forced exchange rate designed to extract economic value from the occupied population rather than serve any genuine monetary function.

Reichsdruckerei, the Reich's own state printing works in Berlin, produced the entire Karbowanez series. The name itself was a Germanicized rendering of the Ukrainian "karbovanets," a deliberate nod to local nomenclature that masked the purely colonial character of the currency.

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