Ukraine Lets Hryvnia Dive as IMF-Backed Move Boosts Bailout Case
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Ukraine loosened its grip on the hryvnia currency, allowing it to slump by a third in a move backed by the International Monetary Fund amid talks for a new bailout.
The hryvnia retreated 33 percent to a record 25 per dollar at 6:20 p.m. in Kiev. Ukraine’s dollar-denominated bonds due in July 2017 advanced to a five-day high of 53.366 cents on the dollar, reducing the yield to 41.13 percent.