Ukraine's foreign reserves grow faster than expected in 2017
Xinhua,January 06, 2018 Adjust font size:
KIEV, Jan. 5 (Xinhua) -- Ukraine's foreign exchange reserves increased by 21 percent in 2017, beating the official forecast, the National Bank of Ukraine (NBU) said on Friday.
The reserves had increased to about 18.8 billion U.S. dollars last year compared with an estimated forecast of 18.6 billion U.S. dollars, the NBU said in a report.
The deposits have risen mainly because the government bought 1.3 billion U.S. dollars in the interbank currency market and obtained one billion dollars from the International Monetary Fund, the report said.
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, it added.
In 2016, Ukraine's foreign currency deposits increased by 17 percent to about 15.5 billion U.S. dollars. Enditem