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In December of 2012, Ukraine's gold and foreign exchange reserves fell by 3.3% or by 0.83 billion USD, member of the NABU committee on monetary policy and exchange rate policies Oleksiy Kutsenko said during a joint press conference of the Ukrainian Credit Rating Agency (UCRA) and the Independent Association of Banks of Ukraine (NABU) dedicated to the project presentation "Investigation of transparency of Ukrainian banks," ForUm correspondent reports.
According to the financier, the reduction occurred due to the reduction in volume of currency and deposits at foreign banks (by 910 million USD or 12%) with increase in volume of securities (by 147.1 million dollars or 1%).
The expert stressed that at the beginning of 2013, the volume of official reserve assets amounted to 24.546.19 million dollars. The main share includes securities (66%), as well as currency and deposits (26%). The share of gold is about 8% of the reserves, and over the last year its volume increased by 27% from 0.9 to 1.14 million troy ounces.
"Formed foreign reserves of the NBU allow to pay the planned external payments, finance the budget deficits and use the foreign exchange intervention," the economist assured.