The new, pro-Russian authorities of the Ukrainian province of Kherson, which has been occupied by Russia, officially announced that from today Monday the Russian ruble will be the official currency, but will be issued simultaneously with Ukrainian hryvnia.
“The region is becoming a dual currency zone: the ruble will circulate in parallel with the hryvnia. “Companies and businessmen can list the prices on both currencies,” said the province’s civil-military administration.
The announcement posted on the Telegram clarifies that the exchange rate is set at 2 rubles against 1 (one) hryvnia.
“Very soon” the first branch of a Russian bank will open in the city of Kherson and “all businessmen who wish to do so” will be able to open an account, the announcement added.
In late April, a local official said the ruble and the hryvnia could circulate in parallel for a “transitional period”, until the introduction of the Russian currency is completed. The pro-Russian authorities made no mention of this possibility today. But Russians and local officials have said there is a possibility the whole region could eventually annexed to Russia.
The city of Kherson, very close to the Crimean peninsula annexed by Russia in 2014, was the first major city to be occupied by Russian forces on March 3, a few days after the invasion of Ukraine on February 24.
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