Ukraine Freezes Currency Trading to Stem Hryvnia’s Freefall
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Ukraine effectively froze trading in its currency market as the central bank deployed new measures to help stabilize the plunging hryvnia until it can access a $17.5 billion loan from the International Monetary Fund.
Policy makers in Kiev banned banks from buying foreign exchange for their clients, tightening capital controls for the second time this week after previous measures failed to keep the hryvnia from falling 53 percent against the dollar this year.