The National Bank of Ukraine dropped its currency’s de facto peg to the dollar in February. It no longer throws its depleted reserves at trying to support the hryvnia. But it clearly hasn’t given up on the beaten and bruised currency entirely. In a statement on its website April 15, the day after a particularly ugly slide in the hryvnia prompted it to jack up interest rates by three percentage points, the central bank said it had temporarily barred 14 local banks from the interbank FX market.
Wall Street Journal: Not giving up on the hryvnia
The National Bank of Ukraine dropped its currency's de facto peg to the dollar in February.
