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

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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

Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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Mike Shedlock

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