Ukrainian hryvnia drops 30% after central bank action


The hryvnia has taken a nosedive following the National Bank of Ukraine's (NBU) decision to scrap daily foreign exchange auctions - despite a parallel increase in the bank's key discount rate from 14% to 19.5%.

The hryvnia had lost half its value against the US dollar in 12 months prior to today. It fell by an additional 32% in the hours following the announcement.

"It's off the charts," says Benoit Anne, head of global emerging market strategy at Societe Generale. "It's a once-in-a-life-time ev

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: