Ukraine's currency plunges on uncertainty, govt seeks IMF help
Published on Feb 27, 2014 11:10 PM
KIEV (AFP) - Ukraine's currency plunged seven per cent to a record low on Thursday on deepening uncertainty fuelled by Russian military exercises and pro-Kremlin gunmen grabbing government buildings in the separatist-minded Crimean peninsula.
The hryvnia was trading for more than 11 to the US dollar during the day, having smashed through the technical barrier of 10 to the dollar on Wednesday.
It has lost nearly 20 per cent of its value since the beginning of this year.
The plummet underlined the challenges facing Ukraine as it grapples with turmoil sparked by the toppling last week of president Viktor Yanukovych.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here