Ukraine To Halt Currency Trading Again Any Minute
With Prime Minister Yatsenyuk putting his foot down and squeezing the central bank to lift capital controls, Ukraine's currency is totally collapsing this morning. Up over 5 handles to a fresh record low of 33.75/USD, we suspect currency trading will be halted any minute. While we discussed the endgame for Ukraine last night, on the street, things are dire with ATM lines, shelves emptied, and local currency exchanges marking up levels dramatically more than the 'official' rates...
The 'independent' Central Bank halted currency trading, and then the government screamed...
"I learned this morning on the Internet that the National Bank of Ukraine has, as usual on its own without any sort of consultations, made the decision to close the interbank currency market, which will absolutely not add to the stability of the national currency that the national bank is responsible for. This situation has a very complex and negative influence on the country's economy," Ukrainian Prime Minister Arseniy Yatsenyuk said.
And it was unhalted... and this happened... UAH collapsed...
The picture is significantly worse on the street...
Mariupol exchangers Today the dollar has broken another record. Buy 1 dollar for 44 hryvnia can sell for 32 hryvnia, according to the city's website 0629.com.Related to this is a panic in the city - in many shops in the city are buying cereals, flour, sugar. By the way, the price of sugar already reached 18 hryvnia per kilogram. "Soon people will buy cookies to drink tea without sugar," - joked seller.broke the record and the cost of a liter of gasoline - more than 26 hryvnia per liter of A-95.According to experts, now the price rise for imported goods and products. For example, the city has increased dramatically the cost of a kilogram of herring - up to 60 hryvnia. For the same money you can buy a kilo of meat.It is noteworthy that the dollar in Kiev a little different - there you can buy a dollar for 36 hryvnia, but also to sell for 32 hryvnia. According to the workers exchangers, such a situation has developed in Mariupol for the area ATO.
with lines at the ATMs
and empty shelves...
as Ukrainians try to get rid of Hryvnia for real goods.
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