NBU reserves increase 4.8% mom in April

Ukraine’s gold and foreign currency reserves expanded 4.8% mom to USD 26.4 bln as of end-April, the National Bank of Ukraine reported on Friday. Reserves went up for the second month in a row thanks to improving BoP on both the current and capital sides and the NBU’s efforts to keep UAH exchange rate from more rapid appreciation (UAH strengthened 0.6% vs. the US dollar during March-April). Since the beginning of the year, the NBU’s reserves are still down 0.6% or by USD 153 mln.