What the Ukrainian MV Faina sailors missed

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Information about What the Ukrainian MV Faina sailors missed
News & Politics

Published on February 12, 2009

Author: bixpeppard

Source: slideshare.net


Ukrainian currency fluctuations September 2008 to February 2009. What the Ukrainian sailors missed.

Chart: Ukrainian hryvnia to US dollar. Exchange rate movements over the period the MV Faina was held hostage by Somali pirates. Back home, there are now mobile phone bills to pay. 10.00 9.45 Ransom demanded: 12/2: MV $20 million - some Faina reaches 8.90 say $35 million Mombasa 8.35 7.80 5/2: Pirates divide 7.25 $3.2 million between themselves. It’s still 6.70 a record haul. 30/9: Three pirates killed in dispute shoot- 6.15 out 5.60 26/9: Taken by pirates 24/10: Russian ministry 5.05 confirms captain has died 4.50 25 Sep 2008 9 Oct 2008 23 Oct 2008 6 Nov 2008 20 Nov 2008 4 Dec 2008 18 Dec 2008 1 Jan 2009 15 Jan 2009 29 Jan 2009 12 Feb 2009 make currency resell 1/12: The Economist publishes: Currency Collapse in Ukraine and local business owner Birimbuzalo comments: “To at $6:UAH1 inevitable for Ukrainians National Bank ordered closure of all exchange points except those at the banks from Jan 1,2009. Guess exchange rate after NY+Christmas holidays? I bet on 1:9 (8.5?) back again. Just imagine yourself a Ukrainian who put UAH 100,000 (equiv of USD 21,000) on July 1, 08 to the bank deposit at 15% interest rate. With inflation at 22.5 % p.a. my math leaves that poor guy with USD 11,000 which he cannot take from the bank anyway due to National Bank order to freeze deposits.” Thursday, February 12, 2009

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