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Ukraine looks to prevent revolt on domestic currency

Aug. 21, 2014 6:06 AM ETRSX, RBL, ERUS, RSXJ, RUSL, RUSS, RUDRBy: Yoel Minkoff, SA News Editor
  • In yet another decision to tighten foreign currency sales, Ukraine's central bank has announced that it is now mandatory for companies to sell all of their foreign currency income on the domestic market.
  • The new move is aimed at offsetting the pressure of a pro-Russian separatist revolt on the Ukrainian currency and requires banks to sell their foreign currency earnings the day after receiving the funds from companies.
  • The rule will apply until Nov. 21, but the central bank has extended similar regulations in the past.
  • ETFs: RSX, RUSL, RSXJ, ERUS, RUSS, RBL, RUDR

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