Bloomberg News

Ukraine’s Central Bank Spent $1.9 Billion to Support Hryvnia

October 10, 2011

Oct. 10 (Bloomberg) -- Ukraine’s central bank spent $1.9 billion last month to support the hryvnia as demand for foreign currency exceeded supply, the bank said.

The Natsionalnyi Bank Ukrainy said it helped NAK Naftogaz Ukrainy, Ukraine’s state-run energy company, pay for natural gas imports in September, according to a statement published today on the regulator’s website. Naftogaz paid $867 million last month for gas deliveries, the company said last week.

Ukraine’s international reserves fell last month to the lowest level since December to $34.95 billion from $38.2 billion a month earlier, central bank said on Oct. 7. It was the biggest one-month drop in Ukraine’s foreign reserves since October 2008.

--With assistance from Daryna Krasnolutska in Kiev. Editors: Alan Crosby, Balazs Penz

%UAH NI CEN NI CIS NI ECO NI EEU NI EM NI EUROPE NI FEAS NI FINNEWS NI FRX NI UKR

-0- Oct/10/2011 10:12 GMT

-0- Oct/10/2011 10:28 GMT

To contact the reporters on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus