Saturday 23 August 2014

Hryvnia Weakens to Near Record as Ukraine Says Russia Invading - Bloomberg

Hryvnia Weakens to Near Record as Ukraine Says Russia Invading - Bloomberg:



"The hryvnia extended its fifth weekly depreciation and Ukrainian bonds fell as the government said Russia is invading the country under the cover of aid.



The currency slumped 2.5 percent to 13.55 per dollar by 4:43 p.m. in Kiev, within 0.17 hryvnia of a record low reached on Aug. 12. It lost 9.4 percent this month, the most among all currencies tracked by Bloomberg, and is down 39 percent in 2014. 




Russian trucks with aid for eastern Ukraine crossed the border without consent from the government in Kiev, representing a “direct invasion,” Valentyn Nalyvaychenko, the head of Ukraine’s security council, said on TV5. More than 150 trucks entered without a Red Cross escort through a border checkpoint in a rebel-held area and headed for the city of Luhansk. Russia warned against attempts to disrupt the convoy."



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