How many rubles in the hryvnia? Correct Currency Quote

The question of how many rubles in the hryvnia, always worried the Russians and Ukrainians, who often cross the border of two states. Recently, it has become even more relevant due to the fact that Ukrainians have become more likely to make purchases in Russian online stores, and Russians - in Ukrainian. In addition, the exchange rate must be known to businessmen whose earnings are related to fluctuations in the value of hryvnia against the ruble. In order to avoid misunderstandings and exchange money for profit, it is necessary to know how Ukrainian money is converted into Russian and vice versa.

Direct and reverse exchange rates

The national currency of each state is expressed in any other monetary unit by quotations. It is necessary to distinguish direct quotation from the reverse, or indirect. With the help of direct quotes, foreign currency is expressed in national currency and acquires the form of price. It displays the amount of currency that accounts for one unit of the quoted currency. At indirect quotation the quantity of quoted money per one unit of the meter is determined. Sometimes the exchange rate is expressed through a third currency: this need arises if the currencies are poorly convertible. This method is called "cross-rate."

Examples of quotations

How much does the Ukrainian hryvnia cost? To answer this question, it is necessary to conduct a direct quotation. At the current rate of 1 hryvnia is about 3.4 rubles. The calculation for 100 UAH will look something like this: 100 * 3,4 = 340 rubles. This value will be the answer to the question, how many in Russian national hryvnia.

And how many Ukrainian hryvnia in the ruble? In fact, the ruble is about 0.35 UAH, or 35 Ukrainian kopecks. To find out how much hryvnia is contained in any other number of rubles, you need to calculate the rate by the reverse quotation: 100 / 0.35 = 285.7 rubles. This means that 100 UAH is contained in 285.7 Russian rubles.

The difference between the values for direct and indirect quotations is called the margin. Margin when setting the hryvnia to ruble rate is higher than the margin when exchanging any of these currencies to dollars or euros. This is due to the fact that more convertible currencies have a lower margin. However, there are many currency pairs, according to which the margin will be much higher.

Contemporary Misconceptions

When the government announces that 1 hryvnia is equal to 3.4 rubles, many interpret this fact from the standpoint of reverse quotes. In fact, this approach is wrong, it is contrary to logic. Other people who are not familiar with the subtleties of quotations, perceive the reverse course as direct. There are cases when citizens resort to double quotes: transferring first from Ukrainian money to Russian, and then carry out a reverse calculation.

All these misconceptions lead to numerous misunderstandings and financial losses.

Dynamics of the rate in recent years

How many rubles in the hryvnia was before? At the beginning of the century, ie. In 2000, 1 hryvnia corresponded to approximately 5.1 rubles. In 2002, the Ukrainian currency reached its maximum point relative to Russia: the average rate was 5.95 rubles. To 1 UAH. After 2005, the ratio changed mainly in favor of the ruble. In 2007, for 1 hryvnia was given already 4.83 rubles, and in 2008 - 3.82 rubles. Such a drastic change was caused by the crisis, which increased the rate of inflation in Ukraine.

Until 2013 inclusive, the hryvnia barely reached the value of 4 rubles. At the turn of 2013 and 2014. There was another sharp change in the exchange rate: now for a single unit of the Ukrainian currency in the exchangers only a triple sum of the Russian is requested. The minimum value of the hryvnia was about 2.7 rubles, but by the middle of 2014 it stabilized at the level of 3: 1.

The rate between currencies changes daily. As of July 2014, the average fluctuation in one working day was from 1 to 5 points, with each item corresponding to one Russian kopeck.

When should I change money?

Russians who plan a trip to Ukraine, it is necessary to take into account: in all household calculations (purchase of products or souvenirs, payment of travel, etc.) only hryvnia participate. Exchange of hryvnia to rubles and vice versa can be made in almost every bank. Those who just plan their budget for the trip, ask questions: if I give 100 rubles, how much hryvnia should I get? As already noted, the approximate ratio now fluctuates around the 1/3 mark (1 hryvnia - 3 rubles). Given the already considered difference between direct and reverse quotes, it is easy to determine approximate amounts and plan your budget.

When the question of how many rubles in the hryvnia is settled, the following arises: where to change the currency? Exchange is best done on the spot. Leaving Russia, it is difficult to guess in advance how much money will be spent. On the spot, the situation is always clear. Moreover, there is no problem with currency exchange in Ukraine: there are exchangers at airports, railway stations, bank branches and shopping centers. Station and airport exchangers often work around the clock, although the course in them may not be the most profitable.

If the traveler has a payment card, the procedure becomes even simpler: you can withdraw UAH from ATMs from Russian cards. Beforehand, you need to clarify the details of this procedure in your bank.

How to know in advance how many rubles in the hryvnia?

On the Internet, you can find a variety of calculators that will help calculate the course. As a rule, they have up-to-date information and can give a more accurate idea of how much money a person will receive as a result of the planned exchange. Even more accurate data can be obtained on the websites of banks, which publish daily fresh courses. But not every bank on the site has a calculator, so you need to be ready to make a calculation manually.