Hryvnia – the official currency of Ukraine

Hryvnia was introduced on September 2, 1996 right after the celebration of Ukraine Independence Day. It replaced the old “coupon” (or “karbovanets”) which was a temporary bill in Ukraine for the period it was leaving the rouble zone. The name of “Hryvnia” is very old – at least centuries old. In the 17^th century Hetman Bohdan Khmelnytsky tried to introduce new hryvnia currency but not with much success. Hetman Mazepa, in the 18^th century made another attempt that also failed. Two centuries have passed since then and now we have hryvnia in circulation. Now it is the only legal tender in Ukraine and since August 1995 all business transactions are required to be in hryvnia. Hryvnia can be freely converted to hard currency in any authorized bank or exchange point.

There are several protection layers in hryvnia bill to ensure its safety. Ukrainian hryvnia bills of all denominations are made of special white paper with watermarks in all parts of each bill. On the faceside of bills of all denominations one can see portraits of prominent figures of history and culture of Ukraine. In the centre of the backside one can see historical and architectural monuments of Ukraine. Protection from forgery is achieved through the design. Watermarks are seen if one looks at the bill putting it against the light. Nowadays national currencies are considered to be as strong as the national economies, which support them. For example, today our Ukrainian currency has value only because the Ukrainian government stands behind it.

U. S. DOLLAR

Dollar is a monetary unit of the United States, Canada and many other countries. Dollar is equal to 100 cents. The U.S. dollar was modeled after a Spanish coin called the peso. They were called “pieces of eight”. All these coins circulated freely in America.

The term “dollar” is derived from Joachimtal mine in Bohemia. In German “Tal”(“dol”, “dolina”) is a valley. In the valley of Joachim they made silver plates called “Taller” (hence “tarelka”), and later silver coins “tallers”. By 1767, Maryland was issuing paper money in denomination that were expressed in “tallers”/ “dollars” in American pronunciation/.

By an act of Congress in 1792, the dollar became the official currency unit in the USA. But the sign $ for the new coin was that of the old Spanish pieces of eight. This sign showed a scroll, with the words Plus Ultra, waving between the Pillars of Hercules, the gateway between the Mediterranean and Atlantic.

The earliest silver (90%) dollars appeared in 1794. Each weighed 27 grams. Silver dollars never became popular in the U.S., where people preferred paper currency. The U.S. stopped producing silver dollars for circulation in 1935.

There were attempts to revive the dollar coin (1971-1978; 1979-1980) but neither coin became popular.

In 1862 many northerners lost interest in the Union. The government printed more money. New paper dollars were called “greenbacks”.

The dollars are issued by the Federal Reserve System, established by Congress in 1913.

The text on the face of an American dollar banknote:

Federal Reserve Note; The United States of America this legal tender for all debts public and private; Washington, D.C. Treasurer of the United States Secretary of the Treasury …dollars

On the face of American dollars one can also see the portraits of the following famous persons:

George Washington (1732-1799), the first President of the United States of America, who gave his name to the capital of the country. He became the first President after the successful war of 13 British colonies for independence. After they won the war they formed 13 states and united to make the United States of America. Thus Independence was proclaimed on July 4, 1776.

Abraham Lincoln (1809-1865), he was President from 1861 to 1865 after the war between the northern and southern states. It was he who proclaimed freedom of slaves of the south.

Alexander Hamilton (1755-1804), a famous American statesman, who fought in the Independence War together with General George Washington. Later he became the first Secretary of the Treasury.

Andrew Jackson (1767-1845), President of the U.S.A. from 1829 to 1837, when Texas won independence from Mexico.

Ulysses Grant (1822-1885), President of the U.S.A. from 1869 to 1877 when the Centinnial Expositions was held in Philadelphia.

Benjamin Franklin ( 1706-1790) a very popular public figure, writer, diplomat and scientist. It was he who invented bifocal spectacles among many other things.

On the back of banknotes various famous buildings are featured, such as:

· Lincoln Monument, one of the monuments in Washington;

· U.S. Treasury Building, in Washington;

· White House, house of every President, except George Washington, who only planned the capital of the U.S.A.;

· U.S. Capitol, which houses the Senate and the House of Representatives;

· Independence Hall, in Philadelphia, where Independence of the 13 British colonies was proclaimed.

All the banknotes bear the words: in God We Trust.

The paper used for money is made out of cotton because this is strong. The bills have a watermark and a security thread in them. The watermark is made by making the paper thicker in some places and thinner in others when it is still wet. A machine presses the inked plates on to paper to make a sheet of bills. It can make 9000 sheets an hour. The sheets are then cut into bills.

More American currency is in circulation outside the United States than inside. Of the $540 billion $300 billion is abroad. 80% of the American cash abroad is in the form of $100 bills and in the US mainly in $20 bills (for use in automated teller machines).

Дата добавления: 2015-11-14