To manage the hryvnia’s slow motion devaluation, the National Bank of Ukraine sold $200 million Wednesday

To manage the hryvnia’s slow motion devaluation, the National Bank of Ukraine sold $200 million Wednesday, the central bank reports on its Facebook page. This is one third less than the $300 million sold Tuesday. The bank says its foreign currency sales are designed to smooth fluctuations, not to maintain a fixed or targeted rate. With today’s rate set at 27.27 hryvnia to the dollar, the hryvnia has devalued 9% in 10 days. Some street level exchange shops offered dollars Wednesday at 28.5 hryvnia. With the hryvnia back at the level of one year ago, exporters feel relief.