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Russian-installed Kherson official says to end hryvnia circulation in January

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The Russian-installed administration of Ukraine’s Kherson region said on Saturday that it had begun changing locally circulated Ukrainian hryvnia currency into Russian rubles, with hryvnia circulation in Moscow-controlled areas of the region to end on January 1.

In a video published on Telegram by the region’s Moscow-appointed administration, Andrei Peretonkin, head of the Russian central bank’s local branch, said: “For the sake of the convenience of residents and to allow for a smoother integration of the region into the Russian economic space, this week banks in Kherson region began currency exchange operations.”

Previously, the Russian-installed administration had said that both the ruble and hryvnia would be accepted in Kherson region.

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Russian forces took control of most of Kherson region in the early days of Moscow’s military campaign in Ukraine, and declared it annexed to Russia in September after a referendum condemned by Ukraine and Western countries.

Less than two months later, Russian forces withdrew from Kherson city under pressure from a Ukrainian counteroffensive, while continuing to hold most of the region’s territory.

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