Ukraine’s hryvnia devalued against the dollar by 5.7% in August, the National Bank of Ukraine reports.

Ukraine’s hryvnia devalued against the dollar by 5.7% in August, the National Bank of Ukraine reports. “To reduce the intensity of exchange rate fluctuations” the central bank sold in August $651 million more currency than it bought. Since the start of the year, the central bank has sold a net $549 million. In July, the hryvnia devalued 2.2% against the dollar. On Monday, the dollar weakened slightly, to 28.41 hryvnia for buyers.