Russian occupiers artificially weaken hryvnia in Luhansk Oblast by half – Luhansk Oblast Military Administration

ROMAN PETRENKO – SATURDAY, 3 SEPTEMBER 2022, 10:26

Russian occupiers in the territory captured in Luhansk Oblast have artificially lowered the hryvnia exchange rate by almost half - from 250 roubles [approximately $4 US dollars] per 100 hryvnias to 125.

Source: Serhii Haidai, Head of Luhansk Oblast Military Administration, on Telegram

Quote from Haidai: "Just a few months ago, you could get 250 roubles for 100 hryvnias in the occupied territory in Luhansk Oblast.

Later, currency exchangers were offering 170 roubles, and even 180 roubles if your savings were too large.

From Monday, the government of the so-called "LPR" [self-proclaimed Luhansk People’s Republic] will set an "official" exchange rate of 1.25, which is half the initial rate.

Details: Haidai said that this affects people who still have savings in hryvnias or who continue to receive social and pension payments.

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