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Ukraine's foreign reserves up by 31.7 pct in January-May

Xinhua, June 3, 2015 Adjust font size:

Ukraine's foreign exchange reserves increased by 31.7 percent, or 2.385 billion U.S. dollars, in the first five months of 2015, a senior official from the country's National Bank (NBU) said Wednesday.

"We have managed to fill up our foreign exchange reserves and we plan to continue to replenish them because currently an oversupply of foreign currency is forming in the market," Sergei Ponomarenko, head of the foreign currency department at the NBU, told reporters.

In May 2015 alone, Ukraine's foreign reserves were up 3 percent from a month earlier to 9.918 billion dollars as the country has obtained 1 billion dollars of credit guarantees from the United States and the demand on foreign currency in the market fell.

Last year, the country's foreign exchange reserves shrank by two-thirds to 7.533 billion dollars.

The NBU has said it hoped to increase foreign currency deposits to at least 17 billion dollars by the end of 2015. Endi