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