NBU Governor Submits Resignation

It emerged today that Valeria Gontareva, Governor of the National Bank of Ukraine, has submitted her resignation from her post.

The market reacted almost instantly to Gontareva's statement, with the hryvnia surging against other currencies.

However, the NBU Governor's resignation alone is insufficient; the Verkhovna Rada of Ukraine must still vote on Gontareva's dismissal. Whether the required number of votes will be secured to remove the NBU Governor may become clear within hours, as a session of the Rada is scheduled for this afternoon.