World leaders arrived in Ukraine's capital on Thursday with a plan aimed at ending the bloody conflict between the Russia-backed rebels and government forces.
French President François Hollande and German Chancellor Angela Merkel planned to arrive in Kiev on Thursday and were scheduled to visit Moscow on Friday with the peace initiative "based on the territorial integrity of Ukraine," the Associated Press reported.
Peace talks between both sides have failed several times.
U.S. Secretary of State John Kerry also arrived in Kiev Thursday, as the U.S. said it would supply $16.4 million in aid to help Ukrainians impacted by the violence in the eastern portion of the country.
More than 5,000 people have died in the fighting, NBC News reported.
"The funding will be used to support the Ukrainian government's response to the crisis caused by Russia's aggressive actions," the State Department said in a statement.
Amid the high-level talks, the Ukrainian currency entered into a free fall, the Financial Times reported:
The hryvnia has crashed 31 per cent to trade at a new record low of 24.5 per dollar. That slump is the biggest in the currency's two-decade history, dwarfing even the deepest slumps of the revolution, the global financial crisis, and the turmoil around the Russian sovereign default in 1998.