More from our news desk on the tanking of the hryvnya:
Ukraine has raised a key interest rate by 5.5 percentage points following a massive decline in the value of its hryvnya currency.
Ukraine's national bank on February 5 announced the refinancing rate would be increased from 14 to 19.5 percent in a bid to "provide a stable and controllable development of the market situation."
The hike, which takes effect February 6, comes after the value of the hryvnya value fell 32 percent on February 5 to a record low of 24.5 per dollar by mid-afternoon.
The move appears to have reduced the pressure on the hryvnya, which rebounded and was trading later on February 5 at 18 hryvnyas per dollar.
The hryvnya tumbled after the national bank loosened its reins on the currency, canceling daily currency auctions in an attempt to eliminate “multiple exchange rates” on interbank and unofficial black markets.
Ukraine's economy has been battered by nearly 10 months of fighting between Russia-backed separatists and government troops in eastern Ukraine.
In 2014, the value of the hryvnya fell 48 percent against the dollar.
Here's video of Kerry saying that Russia must "demonstrate its commitment to ending the bloodshed" in Ukraine. Speaking alongside Ukrainian President Petro Poroshenko in Kyiv, Kerry said Moscow must abandon its support for separatists, remove its troops and weapons from Ukrainian territory, and press the rebels to abide by cease-fire commitments.
RFE/RL's News Desk wraps up Kerry's comments:
U.S. Secretary of State John Kerry demanded on February 5 that Russia "demonstrate its commitment to ending the bloodshed" in Ukraine, saying Moscow must abandon its support for separatists, remove its troops and weapons from Ukrainian territory, and press the rebels to abide by cease-fire commitments.
Firmly placing the onus on Moscow to end a war that has killed more than 5,350 people since April, Kerry said in Kyiv that Washington wants a peaceful solution but "cannot close our eyes to Russian tanks crossing the border" into Ukraine.
Kerry said: "Russia's continued aggression in the east" is the gravest threat facing Ukraine today.
Kerry spoke alongside Ukrainian President Petro Poroshenko after talks in the capital as the leaders of France and Germany headed there as part of a push for peace following a bloody escalation of fighting.
Kerry called for a cease-fire, the withdrawal of heavy weapons from separation lines set in a tattered September peace plan, and said Moscow must "respect the international border" between Russia and Ukraine.
He said this was the only way to stop the conflict and end Russia's "international isolation."
Kerry says Russia must remove troops and heavy equipment from Ukraine and "respect the international border."
MORE FROM KYIV:
Poroshenko, speaking alongside U.S. Secretary of State John Kerry, thanks the United States for its support.
Kerry says he is in Kyiv to "bring you the support and goodwill" of the United States and its people, says Ukraine's sovereignty must be respected.
Kerry says tension with Russia over Ukraine is not a "zero-sum game" but is about respect for the rule of law and other principles, says "Russia's continued aggression in the east" is largest threat to Ukraine today.
Kerry says "Russia needs to demonstrate its commitment to ending the bloodshed" in Ukraine, calls on Russia to "cease this military support for the separatists."
NEWS FLASH: Ukrainian President Petro Poroshenko says Ukraine is facing a "growing escalation of violence by terrorists directly supported" by Russia.