Ukraine’s international reserves increased by 6.4% to USD 20.6 billion in June, according to preliminary data. The National Bank of Ukraine announced this in a statement, Ukrainian News Agency reports. The country’s international reserves amounted to the equivalent of USD 20,638.900 million as of July 1, 2019. The international reserves increased by 6.4% in June primarily due to the placement of eurobonds by the government and the purchase of currency on in the interbank market by the National Bank of Ukraine. In general, the dynamics of the country’s international reserves during the month were determined by several factors. The first factor was the government’s debt management operations. Proceeds from placement of domestic and external government bonds amounted to USD 1,612.4 million in June, including EUR 1 billion from placement of Eurobonds and USD 325.8 million and EUR 148.0 million from placement of government bonds. Part of these proceeds was used for servicing and repayment of government and government-guaranteed debt in foreign currency. These expenditures amounted to the equivalent of USD 952.4 million. Out of this amount, payments on government bonds amounted to USD 773.6 million. Payments to the International Monetary Fund by the government and the National Bank of Ukraine amounted to USD 157.5 million. The remainder was spent on fulfillment of other obligations to foreign creditors and international financial organizations. There was also a favorable situation on the currency market due to the preservation of a positive pricing environment for Ukrainian exports, moderate volumes of imports, and the inflow of foreign capital into government securities denominated in hryvnia. As a result of these factors, the supply of foreign currency exceeded the demand for it. This enabled the National Bank of Ukraine to replenish the country’s international reserves by a total of USD 322.3 million through interventions on the interbank currency market. The National Bank of Ukraine did not perform interventions involving the sale of foreign currency during the month. The country’s international reserves were sufficient to cover 3.4 months of future imports, meet Ukraine's obligations, and cover the current operations of the government and the National Bank of Ukraine as of July 1, 2019. As Ukrainian News Agency earlier reported, Ukraine’s international reserves increased by 10.6% in 2018, amounting to the equivalent of USD 20.8 billion as of January 1, 2019.