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HomeDefenceUkraine’s Foreign Reserves Shrink for 1st Time in 6 Months

Ukraine’s Foreign Reserves Shrink for 1st Time in 6 Months

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Ukraine’s foreign exchange reserves shrank for the first time in six months in August, data from the country’s central bank showed on Wednesday.

In August, the international reserves decreased by 3.2 percent to about 40.4 billion U.S. dollars on the back of foreign currency sales, the National Bank of Ukraine (NBU) said in a statement.

The NBU sold about 2.454 billion dollars on the currency market last month to cover the market’s gap between supply and demand.

Since the beginning of the year, Ukraine’s foreign reserves have increased by 41.7 percent, or 11.893 billion dollars.

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