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KYIV: Ukraine’s foreign currency reserves slipped to about $38.8 billion as of Dec. 1, the central bank said on Wednesday.

The reserves dipped for the fourth consecutive month. They stood at $39.97 billion at the start of November.

The central bank continued to intervene in the foreign exchange market to prop up the hryvnia currency. In November it sold some $2.45 billion, the central bank said in a statement.

The government also paid $250.3 million to the International Monetary Fund in November and another $109.2 million to service its debts to other foreign creditors.

IMF mission starts second review of Ukraine programme

The central bank said that these payments were offset by financial aid from Ukraine’s Western partners.

Ukraine received $2.33 billion in foreign aid in November, including $1.64 billion from the European Union and $403.8 million from the World Bank. The government also raised $286.9 million placing its dollar-denominated bonds on the domestic debt market.

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