Ukraine’s foreign exchange reserves fall 8% in 2011
KYIV, Jan. 6 (Xinhua) — Ukraine’s foreign exchange reserves dropped 8 percent to 31.795 billion U.S. dollars in 2011, the National Bank said Friday.
The annual decline was mainly attributed to shortage of funding from the International Monetary Fund (IMF) and the unfavorable situation on foreign markets.
The country’s foreign reserves in December fell 614 million dollars from a month earlier, the bank said.
According to the bank, the country’s foreign currency reserves amounted to 30.391 billion dollars by the end of last year, the IMF reserve position was 300 million dollars and gold balances stood at 1.385 billion dollars.
In August, Ukraine’s foreign reserves reached its historic high of nearly 38.19 billion dollars, up from 34.576 billion dollars in January.
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