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20 Karbowanez 1942, Ukraine

in Krause book Number: 53
Years of issue: 01.07.1942
Signatures: Reichsbankdirektorium: Dr. E. Einsiedel, Leopold Scheffler
Serie: Karbowanez Reichscommissariat Ukraine
Specimen of: 10.03.1942
Material: Cotton fiber
Size (mm): 164 х 75
Printer: Reichsdruckerei, Kreuzberger Oranienstraße 91, Berlin (from 06.07.1879 till 03.02.1945)

* All pictures marked magnify are increased partially by magnifying glass, the remaining open in full size by clicking on the image.

** The word "Specimen" is present only on some of electronic pictures, in accordance with banknote images publication rules of appropriate banks.

20 Karbowanez 1942






20 Karbowanez 1942

On right side is the Ukrainian peasant in a broad-brimmed hat.

In the center there are the texts: "ZWANZIG KARBOWANEZ, Ausgegeben auf Grund der Verordnung vom." 5. Marz 1942. Rowno, den 10. Marz 1942 Zentralnotebank Ukraine "(Twenty karbovanets. Issued by order of March 5, 1942. Exactly, March 10, 1942. Central Issuing bank of Ukraine).

All texts are obverse in German. Print the bank (round, in the center of the imperial eagle with a swastika, around the text "Zentralnotebank Ukraine"). (


20 Karbowanez 1942

In the center is a large denomination (face value).

Denominations in numerals are in all corners.

Texts in the center are in Ukrainian and German: "Zentralnotebank Ukraine, ZWANZIG KARBOWANEZ, ДВАДЦЯТЬ КАРБОВАНЦIВ, Центральний Емісійний банк Україна. To the left of the denomination the text is "Geldfashung wird mit Zuchthaus bestraft" ("Making false money is punishable by a prison (correctional house)").

To the right of the denomination is same text in Ukrainian - "Фальшування грошевих знаків карається тяжкою тюрмою".

Reverse texts in German and Ukrainian.


The banknotes were printed in Germany. Design of Karbovanets developed in the style of "happy Ukrainian population". Banknote 2 karbovanets almost never occurs - according to legend, the entire circulation for transportation by rail was burned by partisans.

Karbovanets of the Reichskommissariat Ukraine (Ukranian Carbovanets, abbr. Krb, German karbowanez) is the currency of the Reich Commissariat Ukraine III Reich in 1942-1944. Produced by the German Central Emission Bank of Ukraine, organized by the occupying German authorities in Rivne on March 5, 1942 and had branches in regional centers, beginning in March 1942, - with nine denominations from 1 to 500 krb. They were issued on July 1, 1942. According to underestimated estimates, the issue of the bank of Ukraine was not less than 12 billion karbovanets. Appeared in the occupied territory of western and central Ukraine in parallel with the German marks (10 karbovanets = 1 Reichsmark).

In the territories of the General-Governorship (formerly Poland and Galicia), in the zone of the Romanian occupation (Odessa, Nikolaev, Transnistria), in the rear zones of responsibility of groups of German armies Center and South, and actually in the Reich there were no circulations or exchanges. In the east of the Ukrainian SSR and the southwest of the RSFSR - Kharkov, Stalino, Voroshilovgrad, Belgorod, Voronezh - had a very low distribution: the population preferred Soviet rubles and stamps, since these cities never entered the civilian territory of the Reichskommissariat (the corresponding districts are not actually Were created), and throughout the war these occupied territories had only military power.

In most of the territory of the USSR occupied by the Germans during the war, the Soviet ruble (the chervonets in the Reichskommissariat Ukraine until July 25, 1942) remained the legal remuneration at the rate of 10 rubles = 1 Reichsmark.

In the front zone in front of the Carpathian, due to the proximity of the frontline, preference was given to the Soviet ruble, which was the official payment means during the occupation and was also exactly named in the Ukrainian language and on the price tags by the karbovanets.

All prices in the occupied territory of Ukraine were indicated in the Kara-Bovans, which were understood as Soviet rubles, so the karbovanets themselves.

For example, in the middle of 1942, the ticket to the football match "Death match" in Kiev cost 5 krb., Ticket to the Kharkov zoo - 1-3 krb., Kilogram of bread in the markets of Eastern Ukraine - 100-170 krb., Lunch (first, second, Ersatz-cocoa) in a private cafe - 25-60 krb.

The prices for food were as high as the hungry winter of 1941/42 and declined after the appearance of the harvest in 1942, especially in September. Strengthening karbovanets in the summer-autumn of 1942 also contributed to the successes of German troops at the front.

Since the Soviet ruble went on both sides of the front, and the Reichsmarket rate was artificially inflated by the Germans (and, accordingly, the ruble is understated), prices on the Soviet side were lower than in the German one. This meant that when a city was liberated from the occupiers, prices in the local market were immediately reduced, sometimes 2 or 3 times, which was positively perceived by the population.

Karbovanets went into circulation on July 1, 1942. On this day, notes were introduced from 5 to 500 karbovanets.

On July 25, 1942, the population (in the Reisskommissariat Ukraine, excluding the rear of the army groups, which included several hundred kilometers from the front line) was ordered to surrender Soviet money worth more than 5 rubles. Denominations of 1 ruble and 3 rubles were left in circulation as small money.

Amounts of Soviet money over 20 rubles in exchange were not issued, but credited to special accounts, which were to be issued "after the war". Therefore, the purchasing power and living standards of the local population fell sharply due to a multiple reduction in cash available on hand; Prices have remained the same.

This led to the fact that the population was not in a hurry "just" to take out chervontsi, and they continued to walk on the black market. They also officially walked in the rear of groups of German armies (which were under the command of the military administration, not the Reichskommissariat), for example, the third largest city of the USSR, Kharkov.

In circulation in the Reichskommissariat Ukraine remained:


Occupational Reichsmarks,


Soviet treasury tickets with a face value of up to 5 rubles,

All Soviet coins,

German coins 1, 5 and 10 pfennig;


Soviet chervontsi.

The Kravianese course on the German side on the black market was often different from the official one. It was equal to the official German course during the period of the greatest success of the fascist troops (in 1942). With the successes of the Soviet troops and the approaching front line, the course of both the karbovanets and the Reichsmarks became lower and lower in relation to the Soviet ruble. Thus, according to eyewitnesses, before the liberation of Kiev in the autumn of 1943, the population simply stopped selling anything for the Kara-Bulgarians - only for rubles.

The collapse of the karbovanets course on the territory of the Reichskommissariat occurred from the beginning of 1944.