26.65 27.05
29.4 29.95
Economy 2020-05-15T04:04:55+03:00
Ukrainian news
International Reserves Fall By 7.8% To USD 24.9 Billion In March

International Reserves Fall By 7.8% To USD 24.9 Billion In March

NBU, international reserves, reserves

In March, international reserves decreased by 7.8% and as of April 1, 2020 amounted to USD 24.924 billion (equivalent).

The NBU has said this in a statement, Ukrainian News Agency reports.

The decrease in international reserves during March was due, first of all, to the significant volumes of foreign exchange interventions of the National Bank aimed at smoothing out excessive exchange rate fluctuations due to the booming demand for currency from business and the public.

In March, the volume of foreign exchange earnings from exports remained at a stable level, however, the demand for currency from business and the population increased significantly due to the hype surrounding the spread of coronavirus in Ukraine and in the world.

In order to smooth out excessive exchange rate fluctuations and prevent the worsening of devaluation and inflation expectations, the National Bank maintained an active presence in the interbank foreign exchange market.

Net sales of foreign currency by the National Bank in March reached USD 2,189.6 million.

These interventions made it possible to satisfy the demand of business and citizens.

At the end of the month, the situation in the foreign exchange market returned to normal, and the National Bank even returned to interventions to purchase foreign currency.

A total of USD 1,124.3 million (in equivalent) was allocated for servicing and paying off state and state-guaranteed debt in foreign currency.

Of these, USD 536.7 million was paid on government foreign loan bonds (OVDPs),USD 409.3 million was paid on the obligations of the Government of Ukraine and the National Bank in favor of the International Monetary Fund.

The current volume of international reserves covers 3.7 months of future imports, which is sufficient to fulfill the obligations of Ukraine and the current operations of the Government and the National Bank.

As Ukrainian News Agency earlier reported, in January, international reserves grew by 3.9% and as of February 1, 2020 amounted to USD 26.3 billion (equivalent).

In February, international reserves grew by 1.3% and as of March 1, 2020 amounted to USD 26.6 billion (equivalent).

In 2019, international reserves increased by 22% and as of January 1, 2020 amounted to USD 25.3 billion (equivalent).

According to the results of 2018, the international reserves of Ukraine increased by 10.6% and as of January 1, 2019 amounted to USD 20.8 billion (equivalent).

Больше новостей о: NBU international reserves reserves

News

ok