KIEV, Oct. 7 – The National Bank of Ukraine, at an emergency meeting Tuesday, widened its 2008 currency trading band dramatically as the hryvnia continued its freefall against the U.S. dollar, triggering panic.

The hryvnia fell to between 5.55 and 5.60 hryvnias to the dollar in Tuesday trading between commercial banks before closing the day at 5.31/dollar, compared with 5.28/dollar on Monday, dealers said.