Ukraine’s central bank sold only $53.5 million of $100 million in foreign currency on offer

Ukraine’s central bank sold only $53.5 million of $100 million in foreign currency on offer Wednesday, at an average rate of 28.5 hryvnia, Bloomberg reports. In August, international reserves of Ukraine in Aug decreased by 2.9% to $17.2 billion on Sept. 1, the National Bank of Ukraine reports. Timothy Ash writes from London: “Message to Ukrainian policy makers…get your heads out of the sand. Emerging Markets…is really facing big threats at the moment. With a fiscal and current account deficit, high public and gross external debt ratio, limited FX reserve cover, Ukraine is vulnerable. The IMF arrives this week – sign on the dotted line ASAP. Stop playing populist politics over gas prices — or you will have much bigger things to worry about.”