The hryvnia is the official currency of Ukraine since September 2, 1996. It replaced the Ukrainian karbovanets at a rate of 1 hryvnia for 100,000 karbovantsiv. Its symbol is ₴, its ISO code is UAH, and in Ukrainian, it's referred to as "гривня" (pronounced /ˈɦrɪu̯nʲɑ/). The hryvnia is divided into 100 kopecks (копійка in Ukrainian, singular: kopiyka, plural: kopiyky). The name has historical roots dating back to the 11th century, denoting a copper coin worth 2.5 kopecks and a silver coin worth 10 kopecks used in the Kievan Rus'. The term "grivna" also referred to a silver ingot of about 200 grams in Novgorod, Russia, which was often divided into parts called "roubles". The etymology of the word traces back to the torque, a metal collar worn by both Slavs and Celts.