Hryvnia down further

Макроэкономика 09.12.2014 Following noteworthy developments over the past week, the hryvnia is expected to resume its decline. The ruble and euro declined as the Russian central bank spent a total of US$2bn in interventions over the past week. After the US economy surpassed expectations with a better-than-expected monthly jobs report, the dollar index was up 1.25% last week and down 0.33% this Monday. The hryvnia's complications arise from very high inflation that erodes the positive impact of the devaluation that occurred earlier this year.