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Hryvnia decline continues in Ukraine | 02.12

The hryvnia’s value dropped to 7.3850/7.5150 hryvnias vs the U.S. dollar Wednesday at the inter-bank market, according to InterBusinessConsulting financial company. The hryvnia’s exhamge rate vs the Russian rouble makes 0.2575/0.2675 hryvnias, and vs the euro – 9.3695/9.5405.

The central bank did not intervene the market on Tuesday.

The decline comes days after a warning from President Viktor Yushchenko that the hryvnia’s further slide may force the president to shake up the top management of the NBU.

As UNIAN reported earlier, the c.bank claimed Tuesday it was ready to make a currency intervention on December 3 to sell U.S. dollars at a currency auction.

According to the Ukrainian Journal, the NBU on Tuesday scrambled to remove last remaining restrictions to market quotation of the hryvnia on the cash market in a bid to let commercial banks find equilibrium as the hryvnia’s exchange rate against the dollar fell.

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