The Russian occupiers of the Ukrainian region of Kherson have urged the population to exchange their savings for Russian roubles.
Payments in the Ukrainian national currency, the hryvnia, will end on Jan. 1, head of the occupying forces Vladimir Saldo announced in a video on the Telegram messaging service on Tuesday.
He cited the massive drop in the value of the hryvnia due to Ukraine’s economic problems as the reason, saying the currency was “turning into paper.”
In the Kherson region, the regional capital of the same name and other towns are back under Ukrainian control.
Most of the region, however, is occupied by Russian troops.
The currency decision, previously announced in October, is part of the annexation of the region into Russian territory.
The Ukrainian national currency has lost about 50 per cent of its value against the dollar since the beginning of the war.
In the other annexed regions of Luhansk and Donetsk, the rouble has been the official currency for some time.