“We are switching to a multicurrency system where minor deals will be in hryvnias and rubles, and major transactions – in US dollars… This is what we are going to have right now even though, according to opinion polls, the majority of our people favor the Russian ruble,” Plotnitsky told the Luhansk Information Center.
He also ordered the local retailers to denominate prices in hryvnias and rubles.
The sharp depreciation of the hryvnia on February 25 sent its exchange rate to a whopping 45-50 to the US dollar. Before the move it had been at 15 to the USD.
This initially prompted Igor Plotnitsky to mull a switch to a multicurrency system.
