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Ukraine's forex reserves 1.5% up in Oct – NBU

Ukraine's forex reserves 1.5% up in Oct – NBUThe forex reserves of the National Bank of Ukraine (NBU) grew by $188 million in October 2015, or by 1.5%, to $12.962 billion, the central bank said on its website.

"The reserves grew, firstly, thanks to purchases of foreign currency on the Ukrainian interbank currency market. In October, the NBU bought $300.5 million on the interbank market. The large part of the currency ($295.5 million) was bought at auctions," the NBU said.

The central bank said that its forex reserves were replenished thanks to the EUR 199 million provided by KfW development bank (Germany) for the Ukrainian government.

The regulator also said that reserves grew, irrespective of the repayment and servicing of state and guaranteed state debt in foreign currency, and in October $95.7 million was allocated for this purpose, with $13.2 million allocated to servicing government securities.

The central bank said that in October, it sold foreign currency worth $46.5 million, including $37.5 million sold at a Dutch auction on October 30.

NBU Governor Valeriya Gontareva said that an IMF mission will visit Ukraine soon. The visit was postponed due to technical reasons.

"We plan to receive the third tranche of the loan, which would allow for boosting forex reserves to $15 billion," Gontareva said.

According to the report, Ukraine's forex reserves are currently sufficient for the government and the NBU to fulfill their liabilities and current transactions.

Source: Interfax-Ukraine
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