KIEV, Oct. 22 - The currency reserves of the National Bank of Ukraine fell by 7.7% in October (by $2.9 billion), reaching $34.6 billion, President Viktor Yushchenko told reporters on Tuesday.

The bank reserves will be enough to repay $8.8 billion worth of foreign debts of banks and companies in the fourth quarter of this year, but their replenishment using an IMF loan will have a psychological effect on the market, said the president.

In September, the gross international reserves of the National Bank of Ukraine went down 1.4%, or by $533.9 million, reaching a level of $37.5 billion.