Ukraine Currency Falls Most in World on Dollar Curbs, IMF Delay
- Demand exceeds export revenue amid capital controls: Eavex
- Central bank says volatility temporary, market largely stable
This article is for subscribers only.
Ukraine’s hryvnia headed for the worst weekly depreciation in the world as the central bank limited the supply of dollars to protect reserves amid a delay in negotiations to release the next part of a $17.5 billion International Monetary Fund loan.
The currency weakened 2 percent to 25.675 per dollar by 2:51 p.m. in Kiev, the lowest level since a devaluation almost a year ago sent it to a record 34.247 per dollar. The hryvnia is set for a 4.4 percent decline this week, the biggest depreciation among all global currencies tracked by Bloomberg.