Ukraine Hryvnia Falls as $40 Billion Fails to Hearten Investors
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Ukraine’s currency weakened to a record-low amid concern a cease-fire won’t end violence in the country’s east while a $40 billion bailout failed to shore up investor confidence.
The hryvnia fell as much as 3.1 percent while the government’s $2.6 billion of bonds due July 2017 traded higher at 57.21 cents on the dollar. Ukraine reached a preliminary accord to expand an International Monetary Fund-led bailout to avert a default as leaders of Russia, Ukraine, Germany and France agreed to the cease-fire early Thursday.