Hryvnia drops to UAH 14.70 to the dollar
Ukraine’s ailing hryvnia currency slumped to new lows on Friday, hitting UAH 14.20/14.40 to the dollar in trading on the interbank currency market, the Ukrainian online financial news Web site UkrDealing has reported.
Against the euro, the hryvnia sagged to UAH 17.59/18.20, while against the Russian ruble, which also shed value against the dollar on Friday, it was at UAH 0.2920/0.3026
On Thursday the interbank market closed with hryvnia quotations at UAH 14.60 to the dollar, while against the euro it was UAH 17.57/18.13, and against the Russian ruble UAH 0.3074/0.3174.
Ukraine’s NBU central bank said it was introducing daily Dutch auctions (where bids go down, rather than up) from November 5 to set an “equilibrium” value of the national currency.
The hryvnia promptly lost value against the dollar.