KIEV, Nov. 22 - The National Bank of Ukraine is forecasting that its gross international reserves could increase to between $20.5 billion and $21 billion in 2006 from $19.3 billion on Jan. 1, First Deputy Chairman of the Anatoliy Shapovalov told Interfax-Ukraine on Wednesday.

"We will be somewhere around the level of $20.5 billion-$21 billion," he said.