NBU Reserves Shrink 2.1% mom in January
6 February 2008
The National Bank of Ukraine said that its gold and foreign currency reserves decreased 2.1% mom to USD 31.8 bln in January. Polina Khomenko: Rising demand for foreign currency from the population in December-January lead to negative net interventions of USD 408.9 mln in January, which pushed down the NBU’s FX reserves by USD 0.7 bln. We expect the NBU to be more moderate this year and forecast reserves to reach USD 38 bln by yearend.
