Valeria Gontareva, the head of Ukraine's Central Bank, said there was “panic” on the market in connection with ongoing fighting with pro-Russian militants in Ukraine’s east. Photo: Reuters
Quartz: Ukraine’s currency is plummeting (again, and even further)
WNU Editor: On my last trip to see family and friends in Ukraine (2 years ago) .... I decided to leave one bank account active since it would be easier for me to have money already there when I do my return visit to spoil family and friends. I left the equivalent of a few thousand U.S. dollars ... and thought no more of it. The currency crashed about 45% today. Sighhh .... I figure I have lost over 90% of the value of my money in Ukraine in the past two years. And here is an easy prediction .... it is going to get lower. On a side note .... even the IMF is now figuring out that Ukraine is a lost cause and they may no loner want to fund its war .... IMF wary of providing Kiev with extra bailout funds (RT)
More News On Ukraine's Economy
Ukraine’s Hryvnia Plunges After Rate Rise -- WSJ
Ukraine currency plummets after interest rate hike -- The Guardian
Collapsing economy is second front in Ukraine's war -- USA Today
Ukraine's hryvnia plunges after foreign currency auctions scrapped -- Reuters
Ukraine on the Edge of an Economic Crisis -- Economy Watch
Ukraine's Economy Is At The Breaking Point -- Forbes
1 comment:
Well WNU,
There's a need for a little music, tell him Tom:
https://www.youtube.com/watch?v=DST-vpN5vCU
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