Hryvnia back from brink despite central bank U-turn

Valeria Gontareva, NBU governor

The National Bank of Ukraine (NBU) today managed to arrest the fall of the hryvnia, despite adding to market chaos earlier this week by restricting foreign exchange trading and then abruptly reversing the decision.

The intervention brought the hryvnia to 27.24 against the dollar early this morning, an increase of 19.2% compared with the previous close. The central bank sold $81.89 million yesterday to effect the change, a spokesman confirmed.

The IMF has also stepped in to help. "IMF staff are i

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