Ukraine Hyperinflation Banknotes

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1,000,000 Karbovantsiv 1995

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Front: Taras Shevchenko (1814-1861), Ukrainian poet and painter

Shevchenko was born in central Ukraine, then part of the Russian Empire. The son of a serf, Shevchenko became not only an artist and a painter but one of the most versatile people of 19th century. The first collection of Shevchenko's poems was published under the title Kobzar("Minstrel") in 1840. It became a harbinger of the works of one of the greatest humanist writers of all times.

Back: Kiev State University

Back to Hyperinflation Banknotes

Ukraine suffered a period of hyperinflation shortly after it broke away from the Soviet Union in 1991. The highest denomination in 1992 was 1,000 Karbovantsiv. By 1995, it was 1,000,000 Karbovantsiv. In the 1996 currency reform, 1 Hryvnia was exchanged for 100,000 Karbovantsiv.

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