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Ukraine's foreign exchange reserves hit 3-year-high

Xinhua, May 5, 2017 Adjust font size:

Ukraine's foreign exchange reserves reached 17.175 billion U.S. dollars at the start of this month, the highest level since May 2014, the country's central bank said on Friday.

The current level of the reserves can cover 3.6 months of the country's imports, and is sufficient to meet the obligations of the government and the central bank, the bank said in a statement.

Over April, Ukraine's foreign currency deposits have increased by 13.6 percent, or about 2.052 billion dollars, mainly due to obtaining aid from international lenders, the statement said.

In particular, Ukraine has received 996 million dollars in loans from the International Monetary Fund and about 635 million dollars from the European Union.

Besides, the Ukrainian government bought more than 400 million dollars in the interbank currency market.

In 2016, Ukraine's foreign currency deposits increased by 17 percent to 15.5 billion dollars, official data showed. Endit