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Ukraine moves to defend currency peg

Posted on 07 November 2012

Ukraine’s parliament voted on Tuesday to give the central bank legal powers to force exporters to convert at least part of their foreign currency earnings into hryvnias, indicating Kiev aims to keep its currency pegged at current levels.
Other emerging market central banks have introduced forced currency conversions, a partial form of capital controls, to defend their currencies during crises, but such measures had been eschewed by Ukraine since 2005………………………………………..Full Article: Source


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