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'Ukraine central bank has sold over $12 billion of its gold reserves during the war'

The bank’s deputy head says

Reuters, KYIV

Mon Jul 18, 2022 12:38 PM Last update on: Mon Jul 18, 2022 12:47 PM

Buildings destroyed by military strikes are seen, as Russia's invasion of Ukraine continues, in northern Saltivka, one of the most damaged residential areas of Kharkiv, Ukraine July 17, 2022. Photo: Reuters

Ukraine's central bank has sold $12.4 billion of gold reserves since the beginning of Russia's invasion on Feb. 24, the bank's deputy head said on Sunday.

"We are selling (this gold) so that our importers are able to buy necessary goods for the country," Deputy Governor Kateryna Rozhkova told national television. She said the gold was not being sold to shore up Ukraine's hryvnia currency.