KYIV, Oct 7 – Ukraine's FX reserves dropped 8.7% on the month to $26.52 billion as of October 1, the National Bank of Ukraine (NBU) said on Wednesday.

The central bank said the main reasons for the significant decrease in reserves were payments for servicing and repaying state and state-guaranteed debt in foreign currency for the amount of $2.665 billion, as well as the NBU's intervention in support of the hryvnia totaling $231.5 billion.

According to the report, $2.212 billion were spent on servicing and redemption of eurobonds, $417.4 million on fulfilling obligations to the IMF, but at the same time foreign exchange receipts in favor of the government amounted to $445.0 million, including $111.9 million from the placement of government bonds.