$2 Billion in Russian Aid Fails to Help Ukrainian Currency | Business | The Moscow Times:
"Russia's promise to release the next payment on a promised $15 billion loan to the government of Ukraine's President Viktor Yanukovych failed to help the country's hryvnia currency, which fell by up to 1.6 percent against the dollar on Tuesday.
Monday's announcement by Finance Minister Anton Siluanov that Moscow will purchase $2 billion worth of Ukraine's bonds was followed by the hryvnia's fall on the first day of the week U.S. markets were open, though as of Tuesday afternoon the currency avoided a five-year low seen earlier this month, Reuters reported.
Moscow scored a victory when Ukraine's government pulled out of a planned association deal with the European Union last November in favor of closer ties with Russia, but the hryvnia currency has been under pressure after the move sparked anti-government protests centered in the Ukrainian capital Kiev.
The Russian aid is part of a $15 billion package that was offered — and then suspended — amid a back and forth between the Yanukovych administration and the pro-Western opposition."
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"Russia's promise to release the next payment on a promised $15 billion loan to the government of Ukraine's President Viktor Yanukovych failed to help the country's hryvnia currency, which fell by up to 1.6 percent against the dollar on Tuesday.
Monday's announcement by Finance Minister Anton Siluanov that Moscow will purchase $2 billion worth of Ukraine's bonds was followed by the hryvnia's fall on the first day of the week U.S. markets were open, though as of Tuesday afternoon the currency avoided a five-year low seen earlier this month, Reuters reported.
Moscow scored a victory when Ukraine's government pulled out of a planned association deal with the European Union last November in favor of closer ties with Russia, but the hryvnia currency has been under pressure after the move sparked anti-government protests centered in the Ukrainian capital Kiev.
The Russian aid is part of a $15 billion package that was offered — and then suspended — amid a back and forth between the Yanukovych administration and the pro-Western opposition."
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