KIEV, Nov. 20 – The hryvnia lost more than 5% of its value against the U.S. dollar Thursday as the National Bank of Ukraine had refused to spend its forex reserves to support the local currency.

The hryvnia closed at 6.35 hryvnias to the dollar in trading between commercial banks on Thursday, compared with 6.04/dollar on Wednesday, losing more than 30% of its value since early October.