Ukraine’s gold and forex reserves shrink by EUR 3 billion since start of all-out war — NBU

In the first days of the war, the National Bank of Ukraine (NBU) switched to a policy of fixed exchange rates. Rate fixing, however, comes at a price. From the beginning of the war until September, the net sale of currency from the reserves amounted to USD 14 billion and EUR 1 billion.

Vasyl Furman, Deputy Chair of the Council of the NBU made this statement at Media Center Ukraine – Ukrinform.

“At the same time, the reserves of the NBU decreased by only 3 billion euros. The reasons for the pressure on the gold and foreign exchange market that we are observing are a psychological factor and a logistical one, because there was not enough cash currency,” — he said.

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