Ukraine’s Currency In Crisis, Explained
Ukraine’s Currency In Crisis, Explained
The national currency has taken a serious hit since the start of the year, but the conflict with Russia is only partially responsible for its decline.
by Devin Ackles, Hromadske International, Case Ukraine
produced by Maxim Eristavi, Randy R. Potts
An exchange office worker changes numbers indicating the conversion rates outside a currency exchange office in central Kyiv. Photo: Reuters
What You Need to Know:
✓ The hryvnia continues to hit new historic lows on a monthly basis and it is the worst performing currency in the world this year;
✓ The government is trying to stabilize the currency, but has had mixed success;
✓ The currency’s devaluation is the result of balancing reforms with maintaining stability;
✓ The Ukrainian hyrvnia is not in real danger unless it fails to secure further loans from international donors;
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