Ukraine Limits Withdrawals to 15,000 Hryvnia per Day (about $1,500); Hryvnia Up 14%

Courtesy of Mish.

Hoping to halt or slow capital flight and stop the run on banks, the Ukraine central bank limited foreign currency withdrawals to 15,000 Hryvnia per day as noted by FxStreet earlier today.

Hryvnia vs. US Dollar

Taking into account today’s 14% rise, 15,000 Hryvnia is about $1,556.
 
Capital controls and/or other interventions seem to have stopped the slide in Hryvnia. For how long?

Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com

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