You're reading: National Bank of Ukraine hikes refinancing rate from 19.5 percent to 30 percent

National Bank of Ukraine hikes refinancing rate from 19.5 percent to 30 percent

Published March 3, 2015 at 2:43 pm

A currency exchange outlet in Kyiv shows how cheap hryvnia is in relation to the U.S. dollar on Feb. 23.

Photo by Volodymyr Petrov

The National Bank of Ukraine (NBU) has hiked its key refinancing rate from 19.5 percent to 30 percent, NBU Governor Valeriya Gontareva told reporters.

A banker told Interfax that the rate was being introduced on March 4 and would be used for short-term refinancing.

The rate was raised from 14 percent to 19.5 percent on Feb. 6.