Ukraine Tightens Capital Controls as Hryvnia Plunges to Record
(Bloomberg) — Ukraine’s central bank unveiled a package
of measures to help relieve pressure on the hryvnia, which has
been battered by a recession and a pro-Russian insurgency in
the nation’s eastern industrial base.
The steps include a ban on loans to clients to buy foreign
currency and increased control over import operations, central
bank Governor Valeriya Gontareva told reporters Monday in Kyiv.
The moves will help limit outflows of foreign currency,
according to Gontareva, who blamed recent declines in the
hryvnia on companies rather than individuals.
The currency, the world’s worst performer this year, sank
almost 11 percent against the dollar, according to data compiled
by Bloomberg.
To contact the reporter on this story:
Daryna Krasnolutska in Kyiv at
dkrasnolutsk@bloomberg.net
To contact the editors responsible for this story:
Balazs Penz at
bpenz@bloomberg.net
Andrew Langley