Ukraine Tightens Capital Controls as Hryvnia Plunges to Record

Ukraine’s central bank unveiled a package of measures to help relieve pressure on the hryvnia, which has been battered by a recession and a pro-Russian insurgency in the nation’s eastern industrial base.

The steps include a ban on loans to clients to buy foreign currency and increased control over import operations, central bank Governor Valeriya Gontareva told reporters Monday in Kiev. The moves will help limit outflows of foreign currency, according to Gontareva, who blamed recent declines in the hryvnia on companies rather than individuals.