Ukraine protests increase risks of currency crisis


  • World
  • Monday, 02 Dec 2013

A man stands near a board showing exchange rates of foreign currencies outside a currency exchange office in Kiev in this October 16, 2013 file photo. REUTERS/Gleb Garanich/Files

MOSCOW (Reuters) - Massive protests against Viktor Yanukovich hammered Ukraine's financial markets on Monday, increasing the risk of a currency crisis as the president tries to hold on until an election in early 2015.

Ukraine's debt insurance costs jumped and currency traders increased bets on a devaluation after 350,000 people protested on Sunday against Yanukovich's decision to ditch a trade pact with the European Union.

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