Devaluation of the Hryvnia ?

[Admin]

There appears to be rising fear that the Ukrainian government may soon officially devalue the Hryvnia, and the record since September illustrates just how quickly the Hryvnia has lost ground relative to the USD.

Here is a table to accompany the attached graphic:

09/01/2008 4.770 09/02/2008 4.77740 09/03/2008 4.83390 09/04/2008 4.8470 09/05/2008 4.81530 09/06/2008 4.84450 09/07/2008 4.8010 09/08/2008 4.8010 09/09/2008 4.8260 09/10/2008 4.85940 09/11/2008 4.8580 09/12/2008 4.89610 09/13/2008 4.86150 09/14/2008 4.85650 09/15/2008 4.85650 09/16/2008 4.87970 09/17/2008 4.89910 09/18/2008 4.97620 09/19/2008 5.05710 09/20/2008 5.14620 09/21/2008 5.05240 09/22/2008 5.05240 09/23/2008 4.99730 09/24/2008 5.09690 09/25/2008 5.16910 09/26/2008 5.17480 09/27/2008 5.15390 09/28/2008 5.14180 09/29/2008 5.14180 09/30/2008 5.17070 10/01/2008 5.17070 10/02/2008 5.24750 10/03/2008 5.32770 10/04/2008 5.36460 10/05/2008 5.34890 10/06/2008 5.36690 10/07/2008 5.40830 10/08/2008 5.57470 10/09/2008 5.63490 10/10/2008 5.55580 10/11/2008 5.41990 10/12/2008 5.3490 10/13/2008 5.3490 10/14/2008 5.30270

10/15/2008 5.24920 10/16/2008 5.24350 10/17/2008 5.31630 10/18/2008 5.34970 10/19/2008 5.3360 10/20/2008 5.3360 10/21/2008 5.47540 10/22/2008 5.62640 10/23/2008 5.86680 10/24/2008 6.05460 10/25/2008 6.12470 10/26/2008 6.10040 10/27/2008 6.10040 10/28/2008 6.26860 10/29/2008 6.40640 10/30/2008 6.87740 10/31/2008 6.60490 11/01/2008 6.19520 11/02/2008 6.01520 11/03/2008 6.02640 11/04/2008 5.96220 11/05/2008 5.9880 11/06/2008 5.91470 11/07/2008 5.96030 11/08/2008 5.95530 11/09/2008 5.8970 11/10/2008 5.8970 11/11/2008 5.88450 11/12/2008 5.92670 11/13/2008 5.92030 11/14/2008 5.91690 11/15/2008 5.8990 11/16/2008 5.97460 11/17/2008 5.98320 11/18/2008 5.96950 11/19/2008 6.04120 11/20/2008 6.16420 11/21/2008 6.44310 11/22/2008 6.5780 11/23/2008 6.59310 11/24/2008 6.59310 11/25/2008 6.54920 11/26/2008 6.85640 11/27/2008 6.92380

These currency changes are indicative of the broader concerns with the economy and the ripple effect it has, and will continue to have, on the overall economy of Ukraine.

Not a good sign at all.

- Dan

[Mir]

Well Russia is asking Ukraine to pay a couple of billions to settle the gas debt, and if they don't there will be substantial increase in price.
The Ukraine economy is already in a tail spin, from a 6-7% growth this year a 3-5% contraction is expected next year. It is possible that even this is optimistic and actual fall in GDP could be close to 10%. On top of this millions of Ukrainians working overseas (mainly Russia) are likely to lose their jobs and would need to return home.
Russia itself will be in deep unless the oil price recovers and there is little chance of this anytime soon.
God knows how US, UK and now Europe are going to payback for the billions spent on trying to rescue the banking and economy.
What impact will all this have on those looking for a wife in FSU?
Well some think the worsening economic situation will make more women want to leave, but at the same time everyone in FSU knows that the economic situation in US, UK and even Europe is getting worse and there is little chance of improvement.
In the FSU with the economy going bust there can be a sharp increase in crime and foreigners (perhaps looking for a wife) can be an easy target.

[Vaughn]

My knee-jerk reaction to the numbers above was "... this is good news for tourists and visitors...."

That's hardly the case. While wages have increased nationally, the lion's share of increases were
enjoyed mainly by the residents of Kyiv, with air transport employees the chief recipient. Outlying oblasts
cannot keep the pace. I failed to find consumer price indices by region, but I suspect that life's become
tough, as in Russia, for fixed income folks, particularly pensioners. Lowest monthly earnings (avg) in Ternopil
Oblast in August 2008: 1321 UAH, Kherson was 1400. Strongest oblast was Donetsk at 2151, topping even the
oblast of Kyiv. But the CITY of Kyiv, at 3110 - is where the best opportunities lie.

Absolute lowest paid industry, on average: fishing and fisheries. Not quite as bad but still running behind
in terms of earnings by industry include hotel and restaurants, forestry, health care and education.

And, of course, double digit inflation challenges every budget.

What impact will all this have on those looking for a wife in FSU?

Now, as much or more than ever, is a time to exercise great care and patience in a new relationship, for
some of the reasons Mir mentions above.

[SANDRO43]

What impact will all this have on those looking for a wife in FSU? Well some think the worsening economic situation will make more women want to leave, but at the same time everyone in FSU knows that the economic situation in US, UK and even Europe is getting worse and there is little chance of improvement.

The near-sighted leading the blind, perhaps ?