The Ukranian hryvnia is down over 40% hitting new record lows against the dollar after a central bank rate hike failed to calm nerves. The collapse follows an announcement that the central bank is declining to intervene to support the currency. Although central bank governor Valeriia Gontareva stressed it was not a free-float, she added that people will have to “get used to market volatility”. Join the conversation about this story » NOW WATCH: This Animated Map Shows How European Languages Evolved
Source: Business Insider
