Central bank intervention fails to stem hryvnia’s decline, piling further pressure on policymakers to secure IMF bailoutUkraine’s currency lost more than a third of its value on foreign exchange markets at one point on Thursday, piling fresh pressure on policymakers to secure an emergency bailout from the International Monetary Fund.Ukraine’s central bank raised interest rates by 5 percentage points in the morning, but failed to stem the decline in the hryvnia, which slid to 24.5 against the dollar, its weakest level since 2009, in the depths of the global financial crisis. … …read more
Source: The Guardian
