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The gold reserve of Ukraine has increased in September 2015.

The gold reserve of Ukraine has increased in September 2015.

Posted in News.

NBU has increased foreign exchange reserves.
National Bank of Ukraine (NBU) in September, the second time this year, the official gold reserves increased by 30 thousand ounces of gold (31.1 g), or about 0.93 tons, bringing it to 870 thousand ounces (about 27 tons ).
The Results after growth in volumes and a rise in price of gold in September by 0.8% the value of gold reserves increased by $ 41,960,000 to $ 989,780,000. At the same time, in September the price of gold fell sharply, the National Bank is not included in official reserves – from $ 58.5 million to $ 22.6 million.
It was reported that since August 2004 the official gold reserves of the National Bank is constantly increasing. First, small rates – from 0.51 million ounces to 0.90 million ounces by the end of 2011. But then the National Bank sharply sped up the pace of its increase, including due to the fact that in August 2013 transferred 80 thousand. Ounces of gold not included in official reserves, the “official”.
The maximum value of 1.38 million troy ounces of gold reserves reached in April 2014, but after the audit the gold reserves of the official reserves in May decreased by 90 thousand ounces, which were returned to the “unofficial” reserves. And then in October, the National Bank in the optimization of the structure of the reserves sold about 0.46 million troy ounces (about 14.3 tons).
As for the “informal” gold reserves, in December last year they dropped in value terms by 2.8 times – up to $ 43.3 million, and this summer, estimated at $ 54-58 million.
The share of gold reserves in the country’s total foreign exchange reserves peaked at 16.4% in February this year because of the sharp fall in reserves in the previous month – to $ 5.63 billion.
Opening of a new IMF program and increasing the total reserves to $ 12.77 billion by the end of September the share of gold reserves decreased to 7.8%, while in October last year it was 7.9%.

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