Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

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Ukraine's FX reserves amount to $ 30.1 bln – premier

Ukraine's gold and foreign exchange reserves are at one of the highest levels, which allows maintaining stability in the foreign exchange market, where the exchange rate fluctuates within a corridor, Prime Minister of Ukraine Denys Shmyhal said.

"Today, there is one of the highest levels of gold and foreign exchange reserves of $30.1 billion, which allows us to absolutely clearly, together with the NBU, manage the situation and exchange rate stability in the foreign exchange market," he said during a briefing following the NSDC meeting.

He added that the rate fluctuates within the corridor, without specifying which corridor he is talking about, and today it is one of the key indicators of a healthy economy and stability.

As reported, in the first three weeks of January, the National Bank of Ukraine spent about $750 million to support the hryvnia, smoothing out the fluctuations with which the market reacts to news about the military threat from Russia.

In particular, on Monday, due to new negative reports, the hryvnia exchange rate on the interbank market weakened to UAH 28.59/$1 from UAH 28.225/$1 on the previous business day, and the dollar also rose by about 40 kopecks in the cash market with a significant expansion of the spread between the buy and sell rates.

In general, since the beginning of this year, the official hryvnia exchange rate has fallen by 4%.

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