What the tax sphere, bank, investment and currency markets expect from the head of state.
May 27th, 2014
It seems the issue of Petro Poroshenko’s presidency has already been solved. On the eve of the announcement of the official election results, LIGABusinessInform found out the expectations of the market participants have of the future head of state.
What awaits the citizens and businesses on the peninsula, and why does the Russian Central Bank need the Ukrainian national currency?
Starting the beginning of the summer, the Hryvnia will become a foreign currency in Crimea. Earlier the occupational government had planned its circulation in parallel with the Russian rouble until January 1st, 2016; yet according to the amendments to the law regarding Crimea’s accession to the Russian Federation this term has been shortened by 1,5 years.
The Ukrainian people have already accepted that fact that a dollar will cost 9 hryvnia. But no one expected that the hryvnia would continue losing its value.
This morning, February 5, 2014, the hryvnia opened at 9/9.4 UAH per US dollar on the interbank exchange. Tomorrow these rates will be in effect on the cash market. This morning, according to finance.ua, the prices are 8.85/8.92 for a dollar in currency exchange offices. But those rates only apply for a short while because the non-cash market drives the conditions on the cash market. Continue reading →