Hryvnia expected to fall to 8.40 this year and to 9.00 in 2013

[ML]

http://www.kyivpost.com/content/ukraine/ukraine-hryvnia-hits-3-year-low-amid-devaluation-talk-316113.html

For the past year, I have been advising all my friends in Ukraine to diversify any spare money into USD, Euro, and Ruble accounts.  Many have done so.

[Shadow]

Better take gold, silver and copper.

[jone]

Skip the Silver.  Copper is an interesting buy.

[Slumba]

Skip the Silver.  Copper is an interesting buy.

I think silver and gold have the most potential for appreciation, however copper might be good if you can get it cheaply enough.  Best to hold the actual, physical item in your hands rather than trust to the likes of Jon Corzine.

Note that $400K of gold is something a fit person can carry in one hand.  $400K of silver requires 2 hand trucks (like UPS or DHL drivers use).  $400K of copper at $4/lb requires multiple forklift loads.

[jone]

For any newbies reading this post,  WHEN YOU LEAVE UKRAINE, GET RID OF YOUR HRYVNIA HOLDINGS.  I note that LAX, where I fly into, will not exchange Ukrainian money, anyway.  No demand.

[Hammer2722]

For any newbies reading this post,  WHEN YOU LEAVE UKRAINE, GET RID OF YOUR HRYVNIA HOLDINGS.  I note that LAX, where I fly into, will not exchange Ukrainian money, anyway.  No demand.

Its the same in Seattle. I usually spend what little bit I have left or just save it for the next trip. If its alot, I'll sometimes just give it to my girl to keep. I've 40hr I'll be taking back with me next trip.

[calmissile]

For any newbies reading this post,  WHEN YOU LEAVE UKRAINE, GET RID OF YOUR HRYVNIA HOLDINGS.  I note that LAX, where I fly into, will not exchange Ukrainian money, anyway.  No demand.

Note, when exchanging Hryvbnia back into USD $ , the bank may require that you show them the form the bank gave you when you converted USD to Grivnas.  It's a good idea to request the form from the bank even it you don't think you will need it.

I usually bring an assortment of Grivnas back home and give them out to my friends.  LOL

[Daveman]

And the real kicker is that with the inflation rate there and a better USD exchange rate -- more will actually be less.

[Anotherkiwi]

...I usually spend what little bit I have left or just save it for the next trip. If its alot, I'll sometimes just give it to my girl to keep. I've 40hr I'll be taking back with me next trip.

I've got 2 or 3 UAH which I kept as a souvenir (not like the 2000 roubles which I couldn't exchange after my first trip, and used on my second!).

[mobob]

And the exchange rate changes seemingly hourly. On arrival last Friday it was 8.11 to the dollar. Yesterday's exchange got us 8.26 to the dollar at a bank, while the street rate was 8.21. That was 52 hrivna extra on $200. Whoohoo!

[ML]

That was 52 hrivna extra on $200. Whoohoo!

And, some of this extra will quickly become illusionary because the hrivna price for items will adjust upward commensurately.

[calmissile]

And the exchange rate changes seemingly hourly. On arrival last Friday it was 8.11 to the dollar. Yesterday's exchange got us 8.26 to the dollar at a bank, while the street rate was 8.21. That was 52 hrivna extra on $200. Whoohoo!

You are there now and about to bring Olga home to the US?

Is it as cold there as it is in Kiev now?

[calmissile]

And, some of this extra will quickly become illusionary because the hrivna price for items will adjust upward commensurately.

Very true, but the exchange rate will still improve with the $$$ until we find ourselves in the same boat!  LOL