While the Hryvnia Sharply Drops, Ukrainian MPs and Officials Are Sweeping Dollars out of Currency Exchange Offices

Translated by Nikita Che



The Hryvnia continues to sink, quotations for foreign currencies in exchange offices are being changed several times a day, Kiev newspaper “Vesti” writes.

“Dollars are being bought those who filled in e-Declarations. They are taking their cash out abroad, scared by rumours that two [Ukrainian] state-run banks are going to be merged, as well as that PrivatBank is to be nationalized. That’s put a huge crisis before the market,” a black market exchanger said.

“The government announced that the UAH/USD exchange rate will be 27.2,” another black market exchanger added. “Add three more hryvias so you have the black market exchange rate. That’s how things are going to be.”

It should be added that the Hryvnia black market exchange rate has stepped over 27 UAH/USD today.

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