IMF ready to throw Ukraine a lifeline

The capital control laws which banned the vast majority of FX trading between banks in Ukraine were lifted just hours after implementation, and now the Ukraine awaits the the first disbursement under a $17.5 billion IMF bailout. The IMF has declared that it is ready to assist Ukraine with its foreign currency issues

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Ukraine’s Hryvnia falls more than 45% versus the USD

National Bank of Ukraine Governor Valery Gontareva stated that the central bank can no longer support the currency with regular interventions and will now begin to allow greater variations in value, a statement which initially created a 34% decrease in value compared to the dollar, before further free fall took the currency down by 45%

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