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Economy 2019-03-15T05:13:30+02:00
Ukrainian news
NBU's International Reserves Down 0.9% To USD 17.8 Billion

NBU's International Reserves Down 0.9% To USD 17.8 Billion

In July, international reserves of the National Bank of Ukraine reduced by 0.97% to USD 17.795 billion month over month.

Press service of the NBU said this in a statement, Ukrainian News Agency reports.

According to the NBU, by the end of July, foreign currency reserves were at the level of USD 13,571.30 million, reserve position in the International Monetary Fund (IMF) were USD 0.03 million, special drawing funds - USD 3,193.23 million, gold - USD 1,030.4 million.

In July, the reserves remained at the level of the previous month (the reduction was less than 1%).

Slight reduction in the reserves' volume was first of all due to state debt servicing expenses.

In July, the reserves' volume was influenced by the following factors: crediting of funds into state accounts (USD 157.9 million) from flotation of domestic government bonds in foreign currency; government payments attributing to the state debt servicing (USD 579.4 million), of which USD 509.9 million were allocated to repay the domestic government bonds; the NBU's currency interventions in interbank exchange (USD 29.8 million purchased by the Regulator).

In particular, during July, the NBU purchased USD 64.7 million (including USD 52 million through interventions in a form of better exchange rate request).

In addition, in July, the NBU sold USD 34.9 million at a currency auction.

As at August 1, volume of the foreign currency reserves was able to cover 3.7 months of future import trades and was enough to cover obligations of Ukraine and current operations the government and the National Bank.

Since the beginning of 2017, the international reserves grew by 15% from USD 15.5 billion to USD 17.8 billion.

As Ukrainian News Agency earlier reported, in 2016, international reserves of the NBU grew by 17% to USD 15.5 billion.

The National Bank forecasts increasing the reserves to USD 20.8 billion by the end of 2017.

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