"Central bank interventions ... are decreasing for the fourth month in a row. Such a dynamic in April is due both to sectoral factors and further limits of unproductive capital outflow from Ukraine," the statement said. Ukraine's local hryvnia currency has been pegged at 36.57 to the dollar since last summer, and the central bank intervenes regularly to reduce the gap between the official hryvnia peg and its rate on the cash market. ` (Reporting by Olena Harmash, Editing by Tom Balmforth and Timothy Heritage)
(Adds details)
KYIV, May 4 (Reuters) - Ukraine's foreign currency
reserves rose to $35.9 billion as of May 1, hitting a new
11-year high thanks to foreign aid, the central bank said on
Thursday.
The reserves were up by 13% thanks to financial support from
Ukraine's Western partners and lower demand for hard currency at
the domestic foreign exchange market, the central bank said in a
statement.
The central bank received $5.85 billion last month. The
amount included financial support from the United States, the
European Union and the International Monetary Fund, and $242.6
million raised by the government on the Ukrainian debt market.
The statement also said hard currency sales on Ukraine's
foreign exchange market had slipped to $1.37 billion in April.
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