Finance
ReservesExpert – The volume of gold and forex reserves is critical in Ukraine
The volume of gold and forex reserves in Ukraine is critical and amounts to around US $15 bn, said ForUm with reference to Executive Director of the International Fund Blazer Oleh Ustenko.
«In the beginning of October the volume of the gold and forex reserves amounted to around US $16 bn, but it sharply decreased due to US $300 mn, which were sold by the National Bank every week during October. That is why the volume of the reserves now is at the level from US $14 bn to US $15 bn, which is critically low,» said Ustenko at the press conference.
The expert believes that the disturbing factor is that Ukraine will prepay for Russian gas. «In that case the pressure on the exchange rate will increase,» he informed, adding that several financial markets are already aware of this.
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