06 September 2022, Tuesday, 15:03 169

International Reserves Up 13.6% To USD 25.4 Billion In August

Редактор: Daria Zubkova

In August, international reserves increased by 13.6% to USD 25.4 billion.

This is evidenced by the data of the National Bank of Ukraine, Ukrainian News Agency reports.

As of September 1, 2022, Ukraine's international reserves, according to preliminary data, amounted to USD 25,436.0 million.

In August, they increased by 13.6% thanks to the arrival of a significant amount of international aid against the background of moderate debt payments of the country in foreign currency and smaller interventions of the National Bank on the sale of foreign currency.

In general, during August, the dynamics of international reserves were determined by the following factors:

- firstly, receiving assistance from foreign partners and public debt management operations.

Foreign currency inflows to the accounts of the Government of Ukraine at the National Bank in August amounted to USD 4,788.4 million, in particular:

* USD 3,030.9 million came from the United States of America (through the mechanism of the World Bank);

* USD 1,015.6 million - from the European Union;

* USD 349.3 million - from the Government of Canada;

* USD 205.6 million - from the Government of Italy;

* USD 99.6 million - from placement of government domestic loan bonds;

* USD 87.4 million - from other creditors.

The total volume of government payments for servicing and repayment of the state debt in foreign currency amounted to USD 171.9 million.

Of them, USD 165.4 million transferred for servicing and repaying the debt to international creditors, and USD 6.5 million transferred for servicing the government bonds.

In addition, Ukraine paid USD 221.1 million to the International Monetary Fund;

- secondly, NBU operations on the interbank foreign exchange market.

The National Bank sold USD 1,641.4 million on the foreign exchange market and repurchased USD 311.7 million for reserves.

The balance of NBU interventions at the end of the month was negative and amounted to USD 1,329.7 million.

The volume of net sales of currency by the National Bank in August is slightly higher than in July, but significantly lower than the balance of NBU interventions in April, May and June.

The sale of currency by the central bank decreased due to the adjustment of the official exchange rate of the hryvnia to the U.S. dollar on July 21, 2022 (to the level of UAH 36.57 for USD 1);

- thirdly, revaluation of financial instruments (as a result of changes in market value and exchange rates). Last month, their value decreased by USD 16.4 million.

The current amount of international reserves provides financing for 4.0 months of future imports, which is sufficient to fulfill Ukraine's obligations and current operations of the government and the National Bank.

As Ukrainian News Agency earlier reported, in 2021, international reserves increased by 6% to USD 30.941 billion.

On July 21, the NBU adjusted the official hryvnia exchange rate by 25% to 36.5686 UAH/USD.

From August 6, 2022, the National Bank canceled the restriction, according to which banks and non-banking institutions had to buy cash currency from the population at a rate no lower than the official one.

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