KIEV, Nov 7 – The National Bank of Ukraine’s foreign exchange reserves dropped to $15.514 billion as of November 1, down $75 million from October, the NBU reported.

"In connection with the need to make payments on the public debt for the past month, they have not changed. In the past 12 months they have increased by 20%," the central bank said in its press release.

In October, due to the excess supply of foreign currency in the interbank market, the bank conducted ten auctions for forex purchases and bought $274.5 million.