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Ukraine’s Hryvnia Currency Continues Free Fall

Posted on 28 August 2014

Ukraine’s troubled hryvnia continued its free fall, even as the prime minister called for swift measures to stabilize the national currency. The hryvnia lost 1.7% Wednesday, trading at the weakest level ever of just below 14 against the U.S. dollar after talks between the presidents of Russia and Ukraine failed to offer significant progress on the monthslong crisis in the region.
“We need swift and effective economic steps to stabilize the situation at the foreign-exchange market,” said Prime Minister Arseniy Yatsenyuk at the cabinet meeting, adding that the national economy won’t sustain an exchange rate weaker than 12 hryvnia to the dollar………………………………………..Full Article: Source


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