The Central Bank of Ukraine has intervened 3 times this week… demanding the market listen to it that the Hryvnia is under-valued. However, with UAH reaching record lows over 13.5 this morning, it appears they are going to need more USDs to sell…
Just keep repeating…
- HRYVNIA FELL ON PANIC; NO GROUNDS FOR RATE OF 13/$: GONTAREVA
- UKRAINE TARGETING `BALANCED’ RATE OF 11.5-11.9/$: GONTAREVA
- UKRAINE CENTRAL BANK INTERVENED 3 TIMES IN LAST WK: GONTAREVA.
- CENTRAL BANK’S MAIN TASK IS TO STABILIZE HRYVNIA: GONTAREVA
So if they had no USD before, now they have even less…
via Zero Hedge http://ift.tt/1sylAfd Tyler Durden