Ukraine Capital Controls Boost Hryvnia as Crisis Roils Economy - Bloomberg:
"Ukraine’s central bank reversed the hryvnia’s slide with capital controls, giving authorities a reprieve as they struggle with a deepening economic crisis amid a political stalemate stretching into its third month.
Limits on foreign-currency transactions boosted the hryvnia the most in more than four years yesterday. The Natsionalnyi Bank Ukrainy in Kiev said the measures will be temporary. Fitch Ratings downgraded the country’s foreign-currency debt to below Greece, citing a worsening financing outlook, while Ukraine’s reserves dropped to the lowest level since May 2006.
Ukrainian authorities are grappling to stabilize the economy, rocked by a political crisis that has crippled the country’s ability to raise funds. President Viktor Yanukovych traveled for the start of the Winter Olympics to Russia, which has halted payments of a $15 billion bailout after protests in Kiev and around the nation led to the cabinet’s collapse."
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