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Economy 2020-09-15T04:05:07+03:00
Ukrainian news
NBU's International Reserves Up 1% To USD 28.8 Billion In July

NBU's International Reserves Up 1% To USD 28.8 Billion In July

NBU, international reserves, reserves, foreign currency

In July, the international reserves of the National Bank of Ukraine rose by 1% to USD 28.802 billion.

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

The dynamics of the reserves in July were conditioned by the state debt management transactions of the Government.

In July, foreign currency earnings in favor of the Government made USD 1,750 million, inter alia USD 1,128.7 million from the placement of government external loan bonds; USD 608.2 million from the sale of foreign currency-denominated government domestic loan bonds.

At the same time, a total of USD 1,500.3 million (in equivalent) was sent to service and redeem the state debt in foreign currency.

Besides, the reserve dynamics in July was defined by the NBU's transactions on the interbank foreign currency market.

In July, the demand for foreign currency on the interbank foreign currency market slightly exceeded the supply, therefore, the NBU resumed foreign currency interventions to smoothen excessive fluctuations.

The transactions in July were worth USD 498.7 million.

According to the report, the situation was favorable during some days, therefore, the NBU had an opportunity to replenish the reserves from the acquisition of foreign currency.

The overall volume of such interventions made USD 130 million.

Thirdly, the dynamics of the reserves was defined by re-evaluation of financial instruments (as a result of changes in the market cost and foreign currency exchange rate).

Last year, their cost rose by USD 406.3 million.

The current volume of international reserves covers 4.9 months of forthcoming import, which is enough to fulfill Ukraine’s obligations and current operations of the Government and the NBU.

As Ukrainian News Agency earlier reported, in 2019, the international reserves rose by 22% and as at January 1, 2020 they made USD 25.3 billion.

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