International reserves down 1.7% to USD 39.7 billion in September

In September, international reserves decreased by 1.7% to USD 39.7 billion.

This is stated in the message of the NBU, Ukrainian News Agency reports.

As of October 1, 2023, Ukraine's international reserves, according to preliminary data, amounted to USD 39,708.2 million.

In September, they decreased by 1.7% against the background of the NBU's interventions to sell currency to cover the difference between demand and supply on the foreign exchange market of Ukraine, which were largely compensated by receipts from international partners.

In general, during September 2023, the dynamics of international reserves was determined by a number of factors.

First, it was revenues in favor of the government and payments for the maintenance and repayment of public debt.

The government's foreign exchange accounts at the National Bank received USD 3,328.9 million.

Of this amount:

- USD 1,592.4 million - macro-financial assistance from the EU;

- USD 1,250.0 million - grant funds from the United States through the World Bank’s trust fund;

- USD 386.4 million - from the placement of foreign currency government domestic loan bonds.

- USD 100.0 million - from the World Bank under the guarantee of the United Kingdom.

The Government of Ukraine paid USD 465.3 million for servicing and repayment of the state debt in foreign currency, of which USD 388.9 million - for servicing and repayment of foreign currency government domestic loan bonds, USD 51.1 million - debt to the World Bank, and the rest - debt to other international creditors

In addition, Ukraine paid USD 882.1 million to the International Monetary Fund.

In September 2023, according to the balance data, the National Bank sold USD 2,692.1 million on the foreign exchange market and bought back USD 0.7 million to reserves.

So, the net currency sale by the NBU last month was USD 2,691.4 million.

The current volume of international reserves provides financing for 5.3 months of future imports.

As Ukrainian News Agency earlier reported, as of August 1, 2023, Ukraine's international reserves amounted to USD 41,718.6 million, according to preliminary data.

In 2022, international reserves decreased by 7.9% to USD 28.5 billion.

In 2021, international reserves increased by 6% to USD 30.941 billion.