Ukrainian currency drops to all-time low

26.02.2015 19:49
Ukrainian currency drops to all-time low

YEREVAN, February 26. / ARKA /. Ukraine’s national currency, the hryvnia, weakened to a record as trading, Vestifinance reported.

The hryvnia has depreciated 52 percent this month alone, as Ukraine awaits International Monetary Fund approval of a $17.5 billion emergency loan. The central bank kept other curbs on capital flows as the country’s foreign-exchange reserves dwindle amid an insurgency by pro-Russian rebels and an imploding economy, according to Bloomberg.

The currency dropped to an all-time low of 33.75 per dollar today, after closing at 33.5 on Tuesday.

Trade effectively froze on Wednesday after the central bank banned lenders from purchasing foreign currency for clients. The limit was repealed later the same day after Prime Minister Arseniy Yatsenyuk criticized the move.-0-


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