KIEV, Sept. 15 – The National Bank of Ukraine on Monday pledged to defend the hryvnia within a wider band in 2009, letting the hryvnia appreciate or fall against the U.S. dollar by as much as 5%.

The statement, announced by Petro Poroshenko, the chairman of the NBU’s Council, a strategic policy setting body, suggests the bank will let the hryvnia trade within the 4.60 hryvnias and 5.10 hryvnias to the dollar in 2009.