10 000 Karbovantsiv

Ukraine's early post-Soviet karbovanets issues were plagued by hyperinflation so severe that the 10,000 karbovantsiv note, large a denomination as it sounds, was by the mid-1990s barely sufficient for a single bus fare in Kyiv. The karbovanets itself was always a transitional currency — introduced in 1992 to replace Soviet rubles while the permanent hryvnia was prepared — and the entire series was demonetized in September 1996 when the hryvnia finally launched at a conversion rate of 100,000 karbovantsiv to 1 hryvnia.

The P#94 was printed by the Canadian Bank Note Company in Ottawa under contract, one of several foreign printing agreements Ukraine relied on while its own Banknote Printing and Minting Works in Kiev was still being established.