Floating on air for most of the last five years, the Ukrainian currency, the hryvna, began to collapse this week, falling to a low of Hr. 9 to the US dollar on Feb. 5, as the country slides into a full-blown economic meltdown.
The economic cost of nationwide unrest is finally taking its toll and
the currency began to fall at the start of this year. The hryvna lost
5.3% in January, and in just the first week of February it has fallen
another 5 percent. On Feb. 5 it closed at Hr. 8.9500/Hr. 9.0500, a four-year
low.
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