Ukraine`s gold and forex reserves expand to $13.5 bln in May

Ukraine`s gold and forex reserves as of June 1, 2016, amounted to $13.536 billion, which was 2.2%, or $295 million, up on the indicator as May 1, 2015, according to the National Bank of Ukraine (NBU).
After contraction registered in March 2016, Ukraine`s international reserves have been expanding for the second month in a row and the current amount of the reserves is higher than the level registered as of the beginning of 2016, the NBU said on its website.
”An increase in the reserves in May was mainly due to the purchase by the NBU of foreign currency for lessening extreme fluctuations on the interbank forex market and replenishing reserves. Net forex purchases by the NBU in May amounted to $332.7 million. The NBU did not hold auctions to sell foreign currency in May,” the NBU said.

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