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20 000 Karbovantsiv
| Issuer | National Bank of Ukraine |
|---|---|
| Year | 1993-1996 |
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| In circulation to | 17 September 1996 |
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| Obverse description | Central vignette presents the Saint Volodymyr Monument in Kyiv, a statue dedicated to Volodymyr the Great, Prince of Kyiv. A trident shield device appears at the left. Denominations and issuing authority inscriptions are arranged in Cyrillic lettering across the note. |
|---|---|
| Obverse lettering | УКРАЇНА КУПОН 20000 УКРАЇНСЬКИХ КАРБОВАНЦІВ НАЦІОНАЛЬНИЙ БАНК УКРАЇНИ 1993 (Translation: Ukraine, Coupon, 20000 Karbovantsiv, National Bank of Ukraine) |
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| Comments |
Ukraine's post-Soviet monetary situation was genuinely chaotic. The karbovanets — technically a coupon currency introduced as a transitional measure after independence — suffered hyperinflation so severe that by 1995 the official rate had collapsed past 150,000 karbovantsiv to the US dollar. This 20,000 denomination, unthinkable a few years earlier, was a direct product of that spiral.
The entire karbovanets series was retired in September 1996 when the hryvnia was introduced at a conversion rate of 100,000 karbovantsiv to 1 hryvnia, rendering these notes obsolete overnight.