Ukraine’s central bank on Wednesday banned all foreign exchange purchases by companies through banks for the rest of the week in a bid to stem a sharp fall in the national currency, the hryvnia.
The central bank also intervened in the market to prop up the currency, buying USD 80 M at an official rate of 28 per dollar – close to the exchange rate at the start of the week and 12.8% higher than the close after a plunge on Tuesday, Reuters reported.
According to Kiev citizens, the hryvnia’s black market exchange rate is around 40 per US dollar, compared …read more
Source: Novinite
