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Ukraine's gold and foreign currency reserves down 11% in Q1 2006

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KIEV, April 5 (RIA Novosti) - Ukraine's gold and foreign currency reserves declined 11% to $17.26 billion during the first three months of 2006, the country's central bank announced Wednesday.

The National Bank said that as of March 31 reserves had fallen $2.14 billion from the January 1 figure of $19.3 billion, and by $1 billion, or 5.5%, during March.

The drop reverses the trend of 2005, when reserves rose 104%, with steady growth throughout the year.

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