Ukraine to move to more flexible peg

Ukrainian Economy Minister Serhiy Teryokhin said the country plans to replace the hryvna's peg to the dollar with a more flexible exchange rate system that includes the euro.

The move is designed to reflect the Ukraine's growing trade with Western Europe, he said.

The policy will raise the share of Europe's common currency in Ukraine's $9.5 billion of foreign exchange reserves to about 25 percent and may involve a "managed float," in which the hryvna will trade more freely after being linked to

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