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1 000 000 Karbovantsiv
| Issuer | Ministry of Finance of Ukraine |
|---|---|
| Year | |
| Type | Vouchers |
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| Obverse description | Teal guilloche underprint covers the entire field, with a watermark vignette of Kyiv Pechersk Lavra at centre-left and a large numeral "1000000" in a rosette at lower left. The trident coat of arms appears at upper right, with the bold Cyrillic title "СЕРТИФІКАТ" across the centre and the denomination in ornate lettering at right. Two signature lines at bottom carry the titles of the Minister of Finance of Ukraine and the Head of the State Property Fund of Ukraine. |
|---|---|
| Obverse lettering | УКРАЇНА СЕРТИФІКАТ На суму компенсації грошових заощаджень громадян України в установах Ощадного банку України і колишнього Укрдержстраху 1000000 українських карбованців Міністр фінансів України Голова Фонду державного майна України (Translation: UKRAINE CERTIFICATE For the amount of compensation for monetary savings of the citizens of Ukraine in the institutions of the Savings Bank of Ukraine and the former Ukrderzhstrakh 1000000 Ukrainian karbovanets Minister of Finance of Ukraine Head of the State Property Fund of Ukraine) |
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| Comments |
Ukraine's hyperinflationary karbovanets issues of the mid-1990s reflect one of the more severe post-Soviet monetary collapses. The karbovanets had been introduced as a transitional currency in 1992, intended as a temporary measure while the hryvnia was prepared — a preparation that dragged on for four years as inflation gutted the unit's value with remarkable speed. By the time million-karbovanets denominations were necessary, the currency had essentially run its course.
The hryvnia replaced it at a rate of 100,000 karbovantsiv to 1 hryvnia in September 1996.