Ukraine's foreign exchange reserves down in November

Ukraine's foreign exchange reserves dropped for the third consecutive month in November, falling 5.5 percent to 25.4 billion U.S. dollars, the National Bank said Friday, according to Xinhua.

The bank said Ukraine's foreign currency reserves amounted to 23.4million dollars by the end of November, gold balances stood at 1.9 billion and the International Monetary Fund (IMF) reserve position was 9 million.

Ukraine's foreign reserves have fallen 20.3 percent, or 6.4 billion dollars, since the beginning of 2012.

The annual decline was mainly attributed to high debt payments to the IMF. Ukraine has paid 3.75 billion dollars in public debt to the IMF this year.