Ukrainian hryvnia in free fall after Central Bank scraps currency support

Ukrainian hryvnia in free fall after Central Bank scraps currency support

The hryvnia lost 34 percent against the US dollar after the head of the central bank signaled it can no longer support the currency with regular interventions and will allow greater fluctuations. The hyrvnia hit a historic low of 24.5 per 1 USD.

“Get used to market volatility,” National Bank of Ukraine (NBU) Governor Valery Gontareva told reporters in Kiev on Thursday.

359
Like
Save