In the video: people in the Oschadbank exchanging karbovanets for hryvnias, queues, exchange rate, Oschadbank building, article in the newspaper "Goodbye Karbovanets!", documents in hands, woman showing hryvnias in her wallet, people buying food, price tags in hryvnias and karbovanets, people on the streets.
On August 25, 1996, President Leonid Kuchma signed a decree "On Monetary Reform in Ukraine," which withdrew the previous currency, the coupon karbovanets, from circulation from September 2 to 16 and introduced a new full-fledged currency, the hryvnia, and its hundredth part, the kopiyka. The karbovanets were to be exchanged for hryvnia at the exchange rate: 100,000 krb = 1 UAH. The reform was carried out in 2 weeks: from September 2 to 16, 1996.
After that, the circulation of the karbovanets in cash ceased, and the hryvnia became the only legal tender in Ukraine. Ukrainians were able to exchange their karbovanets for hryvnias without any restrictions and without any exchange fees.
