Ukrainian hryvnia in free fall after bank said it can no longer support currency

Ukrainian Central Bank cancels indicative Hryvna rate. Real Hryvna rate differed from indicative by 30%. Panic mood in markets - Gontareva

— *Russian Market (@russian_market) February 5, 2015

“Get used to market volatility," Central Bank Governor Valery Gontareva told reporters in Kiev on Thursday.

With foreign exchange reserves at only $7.5 billion, the central bank “is changing its approach to monetary policy, while strengthening its rigidity,” according to a statement published Thursday.

After the policy shift announcement, Ukraine’s hryvnia fell to 24.5 against the dollar and 28.092 against the euro