The act of proclamation Independent of Ukraine opened a road for introduction of valuable national currency in our young state. A hryvnya was must to become such currency . In relation to the name of coin, for it names were offered "hundredth","rezana", but usual already "copeck" was given in the end. In 1992 the first standards of Ukrainian national currency were made in Canada. However in an appeal in Ukraine from 1992 temporal was entered currency, counted on a transitional period, - Ukrainian karbovanets, or kupono-karbovanec. Exactly this monetary item became during 1992-1995 the victim of inflation, predefined by the economic crisis of transitional period.
The strengthening of stabilizing processes in an economy in 1995 year and first half 1996, in particular considerable disinflation, substantial halt of slump of production, stabilizing of course of the Ukrainian karbovanets, to foreign currencies, growth of profits of population, created the proper terms for introduction of hryvnya which in obedience to Constitution of Ukraine is the monetary item of our state. On August, 25, 1996 the Decree of President of Ukraine Leonid Kuchma "About money reform in Ukraine" was declared in mass medias . In accordance with the Decree of President of Ukraine money reform in our state was conducted on from 2 to September, 16, 1996.

During 15 days - on from 2 to September, 16, 1996 - there were both hryvnyas and karbovanetses in available circulation simultaneously, with the gradual exception of the last. After September, 16, 1996 the acceptance of karbovanetses in all types of payments was halted and the unique legal medium of exchange on territory of Ukraine from this moment was become a hryvnya. From the beginning of reform all deliveries of cash on hand are from the cashdesks of banks (including for payment of job wages, pensions and other profits), non - cash settlement was carried out only in new national currency. The money reform in Ukraine became an extraordinary event for our state, as a result of which it was created one of inalienable attributes of the state system - national money. Foreign analysts welcomed realization of groschovoy reform in our state, examining introduction of Ukrainian currency - hryvnyas - as a certificate of stabilizing beginning in the Ukrainian economy.