Junta Imposes Rationing… “Baloney Dollar” Grivnya Induces Rush on the Shops

Voices from Russia

00 Vladimir Nenashev. The Queue. 2000s

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On Wednesday, UNN reported that Ukrainian shops imposed rationing of basic products after the drastic fall in the value of the grivnya. The currency lost 70 percent of its value, causing people to stockpile food and buy electronics as a hedge. Restrictions apply to cooking oil, flour, and sugar. Retailers may sell no more than two bottles of sunflower oil and two packs of buckwheat per customer, and, depending on the store, from 3 to 5 kilogrammes (6.6-11 pounds) of flour and sugar. Bread, rice, potatoes, meat, and milk aren’t yet rationed, but aren’t so plentiful on the shelves. Stores also saw higher demand for household appliances, as people consider consumer electronics an investment as prices increase daily. Experts think that Ukrainian inflation could be 27 percent by the end of 2015.

Grivnya’s Fall

The dramatic depreciation of the grivnya triggered the rush to buy; it lost 70 percent…

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