As of October 1, 2024, the international reserves of Ukraine, according to preliminary data, amounted to USD 38,898.6 million, in September they decreased by 8.1%.
This is stated in the message of the NBU, the Ukrainian News agency reports.
Such dynamics are caused by the NBU's currency interventions to cover the structural currency deficit on the market and smooth out exchange rate fluctuations, as well as the country's debt payments in foreign currency.
These operations were partially offset by proceeds from the placement of foreign currency domestic government loan bonds and one of the smallest volumes of international aid since the beginning of the year, which arrived in September after significant volumes in August.
This once again demonstrated the irregularity of aid received from international partners inherent in this year.
In general, during September 2024, the dynamics of international reserves was determined by a number of factors.
First, the operations of the National Bank on the currency market of Ukraine.
According to balance sheet data, the National Bank sold USD 3,213.8 million on the foreign exchange market and bought back USD 0.6 million for reserves.
So, the net sale of currency by the NBU in September amounted to USD 3,213.2 million.
Second, receipts for the benefit of the government and payments for the maintenance and repayment of the public debt.
The government's foreign currency accounts at the National Bank received USD 674.7 million.
From this amount:
- USD 603.6 million – from the placement of foreign currency domestic government loan bonds;
- USD 60.0 million – from the World Bank;
- USD 11.1 million from the Council of Europe Development Bank (CEB).
USD 552.4 million was paid for servicing and repayment of the state debt in foreign currency, of which:
- USD 456.3 million - servicing and repayment of foreign currency domestic government loan bonds;
- USD 52.1 million – servicing and debt repayment to the World Bank;
- USD 44.0 million – payment to other international creditors.
Besides, Ukraine paid USD 729.8 million to the International Monetary Fund.
Third, revaluation of financial instruments (due to changes in market value and exchange rates).
In September, due to revaluation, the value of financial instruments increased by USD 381.8 million.
The current volume of international reserves provides financing for 5.0 months of future imports.
As the Ukrainian News agency earlier reported, Ukraine's international reserves increased by 42% in 2023 and exceeded USD 40.5 billion.
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.
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