100 Karbovantsiv

The Ukrainian State Treasury's 1918 issues were produced under genuinely chaotic conditions — the Central Rada government that authorized them had already fallen to Hetman Pavlo Skoropadsky's coup by the time many notes reached circulation. Skoropadsky's administration inherited and continued using Rada-era currency out of sheer necessity, which means this note circulated under a government that had no hand in designing or authorizing it.

The series was printed locally rather than abroad, an unusual choice driven by the difficulty of maintaining foreign printing contracts during the German-Austrian occupation period. Domestic production quality varies noticeably across the run.