Ukraine Money.
How much do things cost in Ukraine ?

Ukraine Money. We often say: "Money likes to be counted." O.K., let's count. For example, an average cost to buy everything what necessary for your child to start a new school year in Ukraine is around 1000 Hryvnia (Ukrainian currency. Abbreviation: UAH). Is it too much or the sum is quite affordable for the family?

It depends... To answer this question we have to know not only how much you have to spend for your child, but also how much Ukraine money you brought home in your purse, what part of your salary has to be spent to buy food for family, to pay bills, to use public transportation, to buy clothes, and etc.

It looks like we need to make a research to answer this question. Most likely, you would prefer to compare the results to the currency of your home country to understand it better. Here is the tool "The Currency Converter". Let's start our research.

• According to the State Statistics Committee of Ukraine , an average wage in Ukraine in June, 2006 was 1063.59UAH / 211.765USD (22.97% increase since January, 2006). For the city of Kiev these numbers are: 1784.64UAH / 355.329USD (27.5%) accordingly.
• The minimum living standard established by law in Ukraine is 423UAH /84USD per month.
• Monthly average pension by age in Ukraine is 383 UAH / 76USD. Minimum monthly pension - 332 UAH / 65 USD.
• Debts in wages in Ukraine in June, 2006 is 1 101,003,000 UAH / 219,214,136 USD (4.5% increase since May, 2006).
• The results of research, conducted by the Swiss Bank "USB" among the 70 world's capitals, placed Kiev on the 62nd position according to its average level of wages. First five positions in this list belong to: Copenhagen, Oslo, Zurich, Geneva, and New-York.
• In order to by a "Big Mac" at McDonald, one has to work: 55 minutes in Kiev, Ukraine; 15 minutes in Zurich, Swiss; 15 min. in Dublin, Ireland; 11 min. in Los-Angeles, USA; 17 min in Luxembourg.

Note: Main materials are written August 2006. But life in Ukraine doesn't stay on place.

2008 updates.

• The minimum living standard (poverty level) is 607 UAH /130 USD per month (July,1 2008.)
• Minimum monthly wage is going to be 545 UAH / 117 USD since October 2008.
• An average monthly wage is established at 1930 UAH / 413 USD (July,1 2008). (44.87% increase since 2007), but due to the rising of prices real increase of income is 14.7%.
• Minimum monthly pension by age in Ukraine is - 544 UAH / 116 USD(July,1 2008).
• Monthly average pension by age is 798,9 UAH / 171 USD.
• ( Minimum monthly disability pension is 544 UAH / 116 USD).
• Debts in wages in Ukraine in July, 2008 was 721.8 mil. UAH / 154,468.412 USD (7.9% increase since July, 2007).

Updates look not bad, but what about real life of an average person in Ukraine? Does he still have problems trying to figure out what should be paid first either utilities or food for his children? Let's try to analyse this updates and 2008 Official Report of the State Statistics Committee about Ukraine Economics.

During the past five-seven years Ukraine currency has been stable and is tied to the dollar. Despite of this stability, many people prefer to exchange their Ukrainian money to dollars or euros and to stash them in hiding places in their apartments. They have a good reason for doing so. In early 90s Ukrainian's monetary system has been collapsed and everyone lost their savings.

Information about Ukraine currency and exchanging money in Ukraine you can find at Ukraine Currency page.

Now, when we have our hard-earned money in our purse, let's see how we can spend them. Below is the list of approximate prices (as of July 2006) of things in Ukraine which will give you an idea of the cost of living. Prices are the subject of change (for some reason they have been rising all the time).

To buy in Kiev (August,2008).

• Loaf of bread 1.4 - 1.7 UAH
• Cookies (1 kg) 10.30 UAH
• Meal at McDonald's $2-4
• Bananas (1 kg) 5.60 UAH
• Oranges(1 kg) 7.50 UAH
• Milk (3 liters) 13.95 UAH
• Beef (1 kg) 25.00 - 55.00 UAH
• Pork meat (1 kg) 35.00 - 50.00 UAH
• Rice (1 kg) 6.1 UAH
• Sugar (1 kg) 4.3 UAH
• Ketchup (about 200 g) 3.04 UAH
• Ketchup (about 200 g) 2.54 UAH
• Home Internet connection - around 300UAH
• To rent a one-bedroom apartment (downtown is more expensive) $200-500/month
• Decent umbrella $5-10
• Pair of house slippers $3-7
• Admission to concert of classical music $1-4

Prices To visit places. (Crimea, July, 2008).

• Livadia Palace 20 UAH / 4 USD (Additional: to take pictures - 5UAH, Video - 15UAH)
• Vine tasting at "Massandra"- 60 UAH /12 USD
• Yalta's Zoo - 15 UAH /3 USD
• Genoa Fortress - 10 UAH (Additional fee: Excursion: 7 UAH, to take pictures - 5UAH, Video - 10UAH)
• Karadag Nature Reserve Tour 30 UAH (adults)/ 15 UAH (children)
• Karadag Dolphinarium 50 UAH (adults)/ 25 UAH (children).

In Ukraine very many people prefer to buy their food at the farmer markets instead of the grocery store. There are a lot of farmer markets and just places to buy home grown produce everywhere in Ukraine. Let's look at the farmer market average prices per kilogram. (June, 2008):

Cucumbers 5.67 UAH

Garlic 11.54 UAH

Apples 12.93 UAH

Sugar 3.78 UAH

Sunflower oil (1 liter) 11.57 UAH

Beef 36.68 UAH

Pig 42.89 UAH

Sour cream 16.59 UAH

Eggs (10 pcs) 4.40 UAH

Honey 23.97 UAH

Bread (550 gram) 1.7-1.9 UAH

Cigarettes 1.25 UAH (Camel), 5 UAH (Marlboro)

Drinking water (1.5 liter) 3.5 UAH

Butter (200 gram) 7.50 - 11.00 UAH

Chicken-grill (1 kg) 46 UAH

Having these prices you can finish our small research on your own. You will be able to understand that Ukraine still has a long way to go to make Ukraine money work.

Today very many even relatively economically stable families are faced to dilemma. They have to choose whether to pay for apartment or to feed their children. Often they fail to do both.

How true is it? Sometimes I receive e-mails from young people who has lived in Ukraine. They can't believe that there are still a lot of people in Ukraine whose level of income is lower than poverty line. Let's try to analyze data about Ukraine Economics presented by the State Statistics Committee of Ukraine which I used working on this page.

They will give you an idea about conditions of living in Ukraine and you can find out the ways to earn Ukraine money and how people spend their money.

Samples of Ukraine's currency, information about Ukraine money history, handling and exchanging money in Ukraine you can find at Ukraine Currency page.

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