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50 Karbovantsiv
| Issuer | National Bank of Ukraine |
|---|---|
| Year | 1991 |
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| Composition | Log in to see details |
| Size | 105 × 53 mm |
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|---|---|
| Obverse lettering | УКРАЇНА КУПОН 50 КАРБОВАНЦІВ НАЦІОНАЛЬНИЙ БАНК УКРАЇНИ 1991 (Translation: UKRAINE COUPON 50 KARBOVANTSIV NATIONAL BANK OF UKRAINE 1991) |
| Reverse description | The reverse carries a vignette of Saint Sophia Cathedral in Kyiv, the celebrated eleventh-century architectural and fresco monument, rendered in fine engraved line work. The numeral 50 is repeated in each corner as a denomination indicator. The composition reflects the cathedral's distinctive multi-domed silhouette within a simple border frame. |
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| Comments |
Ukraine's first post-Soviet banknote series, introduced in 1992 after independence, was printed by the Canadian Bank Note Company in Ottawa — an interesting early partnership for a newly sovereign state scrambling to establish a functional currency before the hryvnia could be readied. The karbovanets itself was technically a transitional coupon currency, not a permanent monetary unit, and the entire series was demonetized by September 1996 when the hryvnia finally replaced it at a rate of 100,000 karbovantsiv to one hryvnia.
That ratio tells the inflation story bluntly. Hyperinflation through 1993–94 rendered small denominations useless almost immediately after issue.