KIEV, Oct. 8 – The hryvnia rebounded sharply against the U.S. dollar Wednesday following a massive intervention by the National Bank of Ukraine, which had tried to stop its rapid depreciation over the past two days.

The hryvnia, which in the morning trading fell to 5.65-5.70 to the dollar, had strengthened to close the day at 5.0 to the dollar after the NBU had injected the hard cash.

The NBU did not disclose the size of the intervention on Wednesday, but a similar action on Friday had cost the central bank about $342 million, according to industry sources.