The hryvnia fell to an all-time low of 14.175 per dollar on Sept. 22, prompting authorities to impose a rate of 12.95 on market. The currency has settled at that rate for the past two weeks, the Bloomberg writes.
Many Ukrainians need dollars and euros to pay back loans and mortgages denominated in those currencies, while authorities know that the weaker the hryvnia is, the stronger the public discontent, said Kateryna Markevych, an Expert of Economic programmess at the Razumkov Centre.
“Harnessing the hryvnia’s rate appears politically motivated,” said Markevych. “The country’s leadership is keeping the hryvnia at its present rate so …read more
Source: Razumkov Centre