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Ukraine's forex reserves grow by 3.3% over last month

Ukraine's forex reserves grow by 3.3% over last monthUkraine's forex reserves grew by 3.3% or $452 million in June, to $13.988 billion, the National Bank of Ukraine (NBU) has reported on its website.

The central bank said that in the past 12 months reserves expanded by 36.3%.

"Reserves grew in June first thanks to the purchase of currency by the NBU to smooth extra fluctuations on the interbank currency market and replenish reserves. Net currency purchase by the NBU during the month reached $429.6 million. The NBU did not hold auctions to sell currency in June," the bank said.

Some $70 million was paid to the government in June, including $50 million from the placement of government bonds pegged to the U.S. dollars.

The NBU said that the reserves grew amid payments to service state and guaranteed debt worth $171.2 million, including $164.2 million sent to service government bonds.

The central bank said that international reserves cover 3.6-months of imports.
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