Banknotes and coins are not only means of payment, they are also a symbol of sovereignty. This is a story about two currencies, two countries, and two peoples with a long and closely intertwined history. The hyrnvia, currency of Ukraine and the shekel, currency of Israel. This is the story of how both of these countries have honoured the other with their respective currencies. Nothing confirms sovereign statehood like its own unique, identifiable and stable currency. And arguably, no two countries know this better than Ukraine and Israel. One of the biggest challenges of any new state is being taken seriously on the world stage as a sovereign political entity with a viable economy. To that end, engaging in international trade is crucial. And for that to happen, a new state needs its own currency. In 1991, shortly after the collapse of communism in eastern Europe, Ukraine suddenly found itself an independent state. After over 70 years of political and economic subordination, Ukraine was finally free of Kremlin control. But taking control of its own affairs after centuries of foreign control would be no easy task. As a new state, Ukraine found itself stuck with the Soviet ruble as its […]
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