The Evolution of the National Currency of Ukraine and Its Influence on the Development of the National Economy

Abstract

The article deals with general terms of the national currency issuance of Ukraine. The role of money has been described in economic terms as well as in historical, cultural and cognitive ones. The importance of such elements of money as design, quality and naming has been substantiated. The historical development of the hryvnia as a currency from its inception in Kyivan Rus to its second revival in 1996, and to the development of its features in modern conditions, have been considered. The main hryvnia types – Kyivan, Chernihivan and Novhorod – have been described and compared. The coinage in circulation during various historical periods has been presented: the period of Kyivan Rus’ (the reign of Volodymyr the Great, Yaroslav the Wise and Sviatopolk), in the Kyiv and Siversk Principalities, during the Kingdom of Poland, in the Great Lithuanian and Rus’ Principality, during the Hungarian Kingdom, in the Rzecz Pospolita, the Austrian Empire and the Grand Principality of Moscow. The nature and history of the ruble, as well as existing theories of the origin of its name, are explored. The origin of the name of the mintage coin «kopiyka» (kopeck), has been explained. The erroneous designation in the naming of the national currency of Ukraine has been pointed out and the ways of correcting it have been suggested. The connection between the historical evolution of the national currency in Ukraine and its further development in the current national economy is discussed.