Hryvnia Declines Most Since 2009 on Wagers Sale Falls Short - Bloomberg:
"Ukraine’s currency weakened the most in more than five years to a record amid speculation that a planned foreign-currency auction failed to meet demand by banks.
The hryvnia slid 11 percent to 14.40 per dollar by 3:31 p.m. in New York, the biggest decline since January 2009, data compiled by Bloomberg show. The currency has tumbled 43 percent this year, the most among more than 170 peers tracked by Bloomberg. The yield on government Eurobonds due in July 2017 increased 1.55 percentage points this week.
The central bank called the foreign-currency auction to “meet the needs of clients,” according to a statement on its website dated yesterday. Foreign-exchange reserves have tumbled 22 percent this year as policy makers defended the hryvnia. Citizens have sought the safety of international currencies amid a conflict with pro-Russian separatists in the country’s east that’s pushing the economy deeper into recession."
'via Blog this'
No comments:
Post a Comment