KYIV—Ukraine’s hryvnia currency weakened by more than 1 percent from the beginning of the trading session on Tuesday after Russia formally recognized the independence of two regions of eastern Ukraine, Refinitiv data showed.
The rate slipped below 29 to the dollar, sinking back to last month’s level. In February, the hryvnia had strengthened slightly and approached 28/$1 on hopes that intense diplomatic talks could lead to a peaceful resolution of the eight-year-old conflict in eastern Ukraine.
