10 Hryven – Ukraine
Non-circulating coins
Commemoration: A Drop of Life
Ukraine
Context
Year: 2024
Issuer: Ukraine 
Issuing organization: National Bank of Ukraine
Period:
(since 1991)
Currency:
(since 1996)
Total mintage: 5,000
Material
References
KM: #Click to copy to clipboard1117
Numista: #421009
Value
Exchange value: 10 UAH
Bullion value: $89.01
Obverse
Description:
A three-dimensional blood drop is surrounded by schematic figures shaking hands. Stylized drops move from each figure toward the center, symbolizing every donor's personal contribution to the noble goal of saving lives.
Inscription:
2024 10₴
УКРАЇНА
УКРАЇНА
Translation:
Ukraine
2024 10 Hryvnias
2024 10 Hryvnias
Script: Cyrillic
Language: Ukrainian
Designer: Maryna Kuts
Reverse
Description:
Against a smooth background, the stylized legend ЖИТТЯ (life) appears as a blood transfusion system. It connects to vessels below, with red ones filled and blue ones empty. Together with a drop, it forms the coin’s name, “A Drop of Life.” The matte texture symbolizes the urgent need for blood donations in wartime.
Inscription:
ЖИТТЯ
Translation:
Life
Script: Cyrillic
Language: Ukrainian
Designer: Maryna Kuts
Edge
Smooth with incised inscriptions
Legend:
Ag 925 31,1
Categories
| Health |
Mints
| Name | Mark |
|---|---|
| National Bank of Ukraine Banknote Printing and Minting Works | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2024 | — | 5,000 | Special Uncirculated |
Historical background
In 2024, Ukraine's currency, the hryvnia (UAH), operates under a managed floating exchange rate regime, heavily stabilized by the National Bank of Ukraine (NBU). The primary anchor for this stability is the unprecedented level of international financial assistance from Western partners, including the EU, IMF, and the United States. These inflows, covering a significant portion of the state budget, allow the NBU to replenish foreign reserves—which have reached multi-year highs—and intervene in the forex market to smooth out volatility. Despite the ongoing full-scale war, the official exchange rate has remained remarkably stable, hovering around UAH 39 to the US dollar for an extended period, a policy the NBU prioritizes to control inflation and ensure macroeconomic predictability.
However, this formal stability masks underlying pressures and a stark duality in the currency landscape. A significant shadow market for US dollars exists, where the exchange rate has historically traded at a 10-15% premium to the official rate, reflecting persistent demand for hard currency and the risks associated with the war. Key challenges for the NBU include maintaining sufficient inflows of foreign aid, managing high budget expenditures for defense, and controlling inflationary pressures which, while reduced from peak levels, remain a concern due to monetization of the deficit and structural damage to the economy. The stability is thus conditional and externally dependent.
Looking forward, the currency's trajectory in 2024 is inextricably linked to the duration of the war and the continuity of foreign financial support. The government and the NBU are navigating a narrow path, balancing the need for wartime spending with long-term monetary stability. Successful implementation of the IMF program and progress on EU accession talks provide positive signals for investors. Nevertheless, any significant reduction in external financing or a severe escalation of the conflict would pose immediate and substantial risks to the hryvnia's stability, potentially testing the limits of the central bank's managed float.
However, this formal stability masks underlying pressures and a stark duality in the currency landscape. A significant shadow market for US dollars exists, where the exchange rate has historically traded at a 10-15% premium to the official rate, reflecting persistent demand for hard currency and the risks associated with the war. Key challenges for the NBU include maintaining sufficient inflows of foreign aid, managing high budget expenditures for defense, and controlling inflationary pressures which, while reduced from peak levels, remain a concern due to monetization of the deficit and structural damage to the economy. The stability is thus conditional and externally dependent.
Looking forward, the currency's trajectory in 2024 is inextricably linked to the duration of the war and the continuity of foreign financial support. The government and the NBU are navigating a narrow path, balancing the need for wartime spending with long-term monetary stability. Successful implementation of the IMF program and progress on EU accession talks provide positive signals for investors. Nevertheless, any significant reduction in external financing or a severe escalation of the conflict would pose immediate and substantial risks to the hryvnia's stability, potentially testing the limits of the central bank's managed float.
✨ Legendary