14:48 29.12.2015

NBU's reserves 77% up in 2015, reaching $13.3 bln

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NBU's reserves 77% up in 2015, reaching $13.3 bln

The National Bank of Ukraine's (NBU) forex reserves has grown by 77% since early 2015, to $13.3 billion, NBU Governor Valeriya Gontareva said at a press conference in Kyiv on Tuesday.

She said that the main achievement of 2015 was financial stability.

As reported, in 2014, NBU's forex reserves fell by 63%, from $20.42 billion to $7.53 billion. In November 2015, they rose by $186 million or 1.4%, to $13.148 billion.

Gontareva said that the NBU has bought $1.6 billion since early 2015, and net purchase of currency by banks from the public reached $1.5 billion. This allowed increasing their currency position.

She said that initially, she projected that the reserves will grow to $15-18 billion this year, although the pause in the IMF-supported Extended Fund Facility (EFF) hindered the achievement of this figure.

"We expect that cooperation with the IMF will resume early 2016," she said.

Gontareva said that the NBU would continue the flexible exchange rate policy and purchase of extra currency supply, selling it only to smooth fluctuations and service state debt.

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