Gold reserves of Ukraine continued to grow, setting an eight-year record
No matter who predicted the economy of Ukraine collapse and default, such delusional statements can easily be swept up by gold and foreign exchange reserves demonstrating their stable growth. Moreover, following the results of January, having reached their eight-year peak.
So, in January 2020, Ukraine managed to increase the volume of gold reserves by 3.9% to $ 26.292 billion. The last time this level of gold reserves was recorded in November 2012.
The first is that the maximum level of gold reserves in Ukraine was recorded in April 2011 and amounted to $ 38.351 billion. However, from this period a rapid decline in gold reserves began and as of January 2014, reserves amounted to $ 17.8 billion.
Considering the fact that monthly imports to Ukraine are on average $ 6 billion, the current level of gold and foreign currency reserves repays more than 4-month supply thereof.
Source: sprotyv
