Ukraine’s currency, the hryvnia, fell to a new record low against the dollar on Thursday.
It has been falling in value for weeks due to the political and economic uncertainty in the country.
But the decline accelerated after parliament stripped President Viktor Yanukovych of his powers on Saturday.
Ukraine’s central bank said it was not going to buy the hryvnia to support it – anyway it is running out of foreign currency reserves to do that.
Economists believe devaluation is justified given the country’s economic circumstances.
Ukraine’s new prime minister Arseniy Yatsenyuk said securing a loan agreement with the International Monetary fund is vital for the country to stabilise the hryvnia.
He told parliament: “We need immediately to sign an agreement with the IMF. As soon as a deal on an IMF programme has been signed, money will come for our reserves and we will be able to stabilise the exchange rate.”
IMF visit sought
Ukraine’s new finance minister said on Thursday he hoped an International Monetary Fund mission would visit Ukraine next week to work on a new aid package of at least $15 billion (10.96 billion euros) for the former Soviet republic.
“Today we requested the IMF send a mission and we hope that it will be here next week,” the minister, Oleksander Shlapak, was quoted as saying by Interfax news agency.
“It will be a new programme. We will be asking for at least $15 billion and then it will become clear,” he added.
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russian rumour mill suggests Putin suffering poor health | euronews, world news
- 3Slovenia becomes 11th EU nation to approve gay marriage | euronews, world news
- 4[LIVE] Germanwings passenger jet crashes in southern France, 148 people on board – authorities | euronews, world news
- 5Exclusive: CIA and Mossad are behind Boko Haram and ISIL, says Sudan president | euronews, world news
- 6Indian rapist says women to blame for being sexually assaulted | euronews, world news
- 7International news | euronews, latest international news
- 8French Alps plane crash treated as suicide and mass murder by co-pilot | euronews, world news
- 9Why is Bulgaria the EU’s most unhappy country? | euronews, world news
- 10Greece’s claim for war reparations from Germany explained | euronews, world news
- 11eurovibes - a selection of Europe’s best music talent
- 12Reaching new heights: Parents in India scale walls to ‘help students cheat’ | euronews, world news
- 13Tens of thousands march in Moscow in memory of Boris Nemtsov | euronews, world news
- 14Handwriting and the digital age, time for change in schools? | euronews, learning world
- 15London calling: why home-loving Hungarians are flocking to British capital | euronews, reporter
- 16International breaking news | euronews online world breaking news in video
- 17French prosecutor: Germanwings co-pilot appears to have crashed plane deliberately | euronews, world news
- 18Manufacturing jihad – Nicolas Hénin explains what he learned about ISIL | euronews, the global conversation
- 19Germanwings press conference mystery: what wasn’t he supposed to say? | euronews, world news
- 20Which EU country has the biggest gender pay gap? | euronews, world news
Wires > Business
- 17:35 CET Morrisons’ recovery plan – Go back to the future
- 16:15 CET ECB slows bond-buying pace a touch in plan’s third week
- 15:02 CET Advice gap leaves ‘pension freedom’ pitfalls for UK savers
- 14:59 CET Bank of England to stress test banks for global slump scenario
- 14:35 CET Germany says Greece must flesh out reforms to unlock aid
- 14:23 CET UnitedHealth to buy pharmacy benefit firm Catamaran for $12.8…
- 14:08 CET Teva to buy U.S. drug developer Auspex Pharma for $3.5 billion
- 14:06 CET German EU-harmonised prices rise for first time this year in March