Hryvnia exchange rate plunges suddenly by 54 kopiykas

15:47, 05 November 2014
Politics
6 0

The exchange rate of the Ukrainian national currency the hryvnia suffered a sharp decline on the interbank market on Wednesday, losing 54 kopiykas against the dollar, according to the official Web site of the National Bank of Ukraine.

UNIAN

As of 1400 the central bank set the following official exchange rates of the hryvnia against leading foreign currencies:

$100 – UAH 1,349.7012 (as of 1400 on November 4 it was UAH 1,295.3953);

EUR 100 – UAH 1,689.0161 (as of 1400 on November 4 it was UAH 1,618.3373);

10 Russian rubles – UAH 3.2164 (as of 1400 on November 4 it was UAH 3.0870).

As UNIAN reported earlier, the National Bank of Ukraine decided to conduct daily currency auctions from November 5 of small sums according to a Dutch auction system to find the normal equilibrium exchange level or to stabilize the hryvnia at the current level.

In the wake of this decision by the National Bank of Ukraine, the hryvnia suddenly plunged in value in trading on Wednesday.

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