BEIJING, Feb. 9 (Xinhuanet) -- The ongoing fighting in eastern Ukraine has taken a heavy toll on the country's economy. Following a massive fall in its currency that has stoked inflationary pressures, Ukraine's central bank has raised its key interest rate by a massive 5.5 percentage points to 19.5 percent. The move came following a 46 percent slide in its currency against the US dollar earlier on Thursday.
The rate hike appears to have eased the pressure on the currency somewhat, and it was trading 18 percent lower at 18 hryvnias per dollar. But the mood among Kiev residents is rather gloomy.
(Source: CNTV.cn)
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