Ukraine Forex Reserves at 3-Year High

Ukraine’s foreign exchange reserves reached $17.1 billion at the start of this month, the highest level since May 2014, the country’s central bank said, Xinhua reported. The current level of the reserves can cover 3.6 months of the country’s imports, and is sufficient to meet the obligations of the government and the central bank, the bank said in a statement. Over April, Ukraine’s foreign currency deposits have increased by 13.6%, or about $2.052 billion, mainly due to obtaining aid from international lenders, the statement said. In particular, Ukraine has received $996 million in loans from the International Monetary Fund and about $635 million from the European Union.