Ukraine currency slumps as reserves dry up - FT.com:
"A re-escalation in violence in eastern Ukraine sent the hryvnia to fresh lows on Tuesday, increasing the strain on the country’s banking system and tattered finances.
After managing to hold the currency steady at around 13 to the dollar throughout October, the central bank was forced to abandon its unofficial peg a week ago in order to halt the rapid depletion of its scant foreign currency reserves.
At the same time, tensions with Moscow and the eastern separatists it backs are increasing again, frustrating hopes for a peaceful settlement that would help restore the war-torn economy’s footing."
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