Ukraine expects pressure from IMF to further devalue currency as financing negotiations begin
If the fifth review of revisions of the Extended Fund Facility (EFF) program is approved, Ukraine could receive an additional $1.1 billion disbursement.
Currency
Despite sanctions, billions of dollars, euros shipped to Russia since March 2022, Reuters reports
Much of the cash arrived in Russia via third-party countries such as the United Arab Emirates and Turkey, which have declined to join in such currency-related sanctions against Russia.
International reserves declined by almost 8% in May, National Bank says
The NBU's international reserves have fluctuated significantly since the beginning of Russia's full-scale war, dropping as low as $22 billion in July 2022.
National Bank institutes largest package of currency liberalization measures since February 2022
"This move, together with other measures by the NBU, should allow Ukrainian businesses to 'breathe to their full potential' and help attract private capital to recover the economy," said NBU Governor Andriy Pyshnyy.
Bloomberg: Trade of yuan in Russia's foreign exchange market reaches record high
The data was another illustration of the increasing importance of the yuan in Russia's economy amid the growing de-coupling from Western financial systems.
NBU devalues hryvnia against dollar for first time since invasion, by 25%
The National Bank of Ukraine has devalued the hryvnia against the dollar by 25% on July 21. The new official rate is Hr 36.57 per dollar. The previous rate of Hr 29.25, established in February at the start of the invasion, "no longer corresponds to reality and is
Sanctions likely to seriously hurt Russia. But they may not stop the war
It took a full-scale invasion by Russia into Ukraine to get the international community to apply a range of sanctions against the attacking country. The most severe penalty was the move to sever certain Russian banks from the international payment order system SWIFT and prevent the Russian Central Bank from
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