Cash hryvnia shortage emerges in Ukraine

While people panicked and bought dollars at banks and exchange offices, thereby driving up the dollar and euro rates, a shortage of cash hryvnia emerged in Ukraine. Today, on social media and in queues people began complaining that they could not sell dollars, as now in banks  the hryvnia has run out.

 

«К вечеру пропала гривна в банках, доллары нельзя обменять» (By the evening, the hryvnia had disappeared from the banks, dollars cannot be exchanged), people say.

 

At the same time, a positive shift emerged in the exchange rate of the national currency itself. If in the first half of the day the price of a dollar with speculators reached 42 hryvnia, then by the evening the currency could easily be bought there for 35 hryvnia per dollar.

 

It appears that the NBU has begun withdrawing cash hryvnia to reduce its volume and thereby at least somewhat stabilise the rapidly falling national currency.  One hopes that the government, has finally, decided to pay attention to the NBU's actions and today's conversation with the president will have its effect.