Ukraine Currency Crashes To Record Low

Tyler Durden's picture

Russia's earlier "default" warning (or threat) has not just impacted Ukrainian bonds but the currency is crashing. The Hyrvnia is down a stunning 6.8% today - the biggest drop since Feb 2009 - to a record low 9.8 to the US Dollar. This crisis is far from over and we would expect capital controls in 3...2...1...


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Divided States of America's picture

This chart is giving me a hernia

Vampyroteuthis infernalis's picture

This is heading to default for someone. Will it be the banksters in the east, west or even both has yet to be determined.

earnyermoney's picture

Someone stated on another thread that Austria's banks have huge exposure to Ukraine. Not sure if that's true but I hope it's true.

NEOSERF's picture

Any currency that sounds like a science fiction city or some obscure part of a woman's reproductive system should be renamed after it collapses.

LawsofPhysics's picture

Well, it looks like they couldn't afford the gas anyway...

I am sure the IMF will be happy to enslave them...

Renewable Life's picture

And that's how it's done friends!!!!!!

Straight from the play book of "the company"! Chapter is titled, "how to collapse a proxy government in less then a year"

And it looks like they did it in less then 6 months, nice work boys and girls, who's next??????

Ukraine (major nature gas infrastructure and distribution hub) ........check
Venezuela are you watching?? (Major oil assets) progress
Turkey (strategic military point, oil and gas pivot point) progress
Syria (strategic military point, oil and gas pivot point)!
Iraq (oil)........check
Libya (oil) ........check

The list goes on..........the only question that remains is, if and when will the other two players on the planet, step up and engage?????

ZH Snob's picture

oh well, time to buy Argentinian peso again.

alien-IQ's picture

I guess this guarantees another all time high for the S&P? After all...why not?

akak's picture

I told you guys you shouldn't have named it the "hyrvnia".

It sounds like some diminutive Himalayan rock-dwelling rodent.

forwardho's picture

SirI beleive you refer to the hyrax.

A noble rodent if ever there was.


akak's picture

No, I believe that the hyrax is actually part of the female anatomy.


Urban Redneck's picture

Too late for capital controls, I think the foreign FI's have relocated the servers housing their Ukraine digits to friendlier terrain where whey can fight over valuations & EUSSR/USSA financed banker subsidy injections on their own terms.

Doubleguns's picture

So now we can add Ukranians to the list of folks who hate bankers. Who are the holdouts at this point besides govts?

LordAarioc's picture

Short the F-OUt of it again.

Kirk2NCC1701's picture

So this is the new EU and US policy?  To seek out and support failing currencies and economies? 

Finally... a place into which to funnel fiat USDs, and hope that something useful pops out.

But it's not a turf war between Currency and Energy cartels, right?  Right.  Pffff.

Toburk's picture

If I'm not mistaken, for capital controls to be imposed Ukraine would need more "functional government" and less "about to be invaded by Russia".

hugovanderbubble's picture

Russia and Argentina are in default