The timing was far from ideal. Shortly after Ukraine slapped curbs on cash transactions to help rein in the grey economy, the head of the nation’s tax service told reporters he won’t entrust his savings to banks. His stash of dollars, euros and hryvnia was the equivalent of $1.8 million, according to government asset declarations from 2016.
Bloomberg: Ukraine wants to go cashless but the black market rules
Currency exchange on Jan. 16, 2017 in Kyiv.
