KIEV, Dec. 27 – Strategic financial and economic contracts with Russia and China will support the hryvnia, but retaining stability will depend on the actions of the government and the moods of the public, the Independent Association of Banks of Ukraine said.

"The present situation does not give reason for alarm… The stability of the national currency in the near term will depend on the further economic policy of Ukraine and devaluation expectations of the public," the IABU said on its Web site.