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. Last Updated: 07/27/2016

Bank to Prop Hryvna




KIEV -- Ukraine's central bank is likely to intervene to support the weakened hryvna, the head of the bank's currency department Serhiy Yaremenko said Thursday.


"I will intervene, but when I will intervene I have not decided yet - I mean the central bank," he said.


The hryvna has slipped by several kopeks in the past 10 days, sparking fears of a heavier fall after months of relative stability.


The official hryvna exchange rate based on interbank trades of the previous two days eased to 4.1790 to the dollar Thursday from 4.1569 Wednesday.


Dealers blamed last week's fuel crisis for sparking the first weakness in the hryvna in the retail market, which spilled into the interbank market.