31/12/2020: Digital Currency Pilot
Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.
02/03/2020: COVID-19 impact
The outbreak of the COVID-19 pandemic resulted in economic disruptions, affecting the Ukrainian Hryvnia and causing volatility in the currency markets.
20/12/2017: Second Devaluation
The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.
20/12/2015: Devaluation
The manat was devalued by more than 30% against the US dollar in response to falling oil prices.
05/02/2015: Currency devaluation
Due to the economic crisis, the Ukrainian Hryvnia experienced a significant devaluation, leading to a sharp increase in prices and financial hardships.
20/02/2014: Ukrainian revolution
The Ukrainian revolution began, leading to political instability and economic challenges, impacting the value and stability of the Ukrainian Hryvnia.
01/07/2008: Exchange rate flexibility
Ukraine implemented a flexible exchange rate system, allowing the Ukrainian Hryvnia to fluctuate based on market forces rather than being pegged to a fixed rate.
20/02/2005: Pegged to US Dollar
The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.
01/10/2004: Banknote redesign
New banknotes of the Ukrainian Hryvnia were issued with enhanced security features and updated designs, aimed at combating counterfeiting.
14/06/2001: Currency Reform
A currency reform was implemented, resulting in a new manat with a higher exchange rate.
02/09/1996: Currency reform
A currency reform was conducted, introducing new banknotes and coins of the Ukrainian Hryvnia, addressing issues of inflation and stabilization.
31/12/1993: Hyperinflation
Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.
02/09/1992: Introduction of the Ukrainian Hryvnia
The Ukrainian Hryvnia (UAH) was introduced as the national currency, replacing the Soviet ruble, marking Ukraine's economic independence.
14/08/1992: Introduction of Manat
The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.