Economy 2024-05-15T05:24:03+03:00
Ukrainian news
International Reserves Up 10.7% In November To Pre-War Level Of USD 27.9 Billion

International Reserves Up 10.7% In November To Pre-War Level Of USD 27.9 Billion

IMF, Russia, war, Ukraine, EU, USA, NBU, international reserves, government bonds, war with Russia, Russia's war against Ukraine

In November, international reserves increased by 10.7% to the pre-war level of USD 27.951 billion.

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

As of December 1, 2022, Ukraine's international reserves, according to preliminary data, amounted to USD 27,951.4 million.

This level is higher than at the beginning of Russia's full-scale war against Ukraine: as of the morning of February 24, 2022, they were USD 27,422.2 million.

In November, reserves increased by 10.7% thanks to the rhythmic inflow of international aid against the background of lower volumes of net sales of currency by the National Bank and moderate debt payments of the country in foreign currency.

It is reported that USD 4,616.9 million were received on the government's currency accounts at the National Bank, of which:

- USD 2,530.0 million- from the European Union;

- USD 1,500.0 million - from the United States of America (through the World Bank trust fund);

- USD 517.8 million - from the placement of currency bonds of the domestic state loan (OVDP);

- USD 69.1 million - from other international creditors.

The Government of Ukraine paid USD 605.0 million for servicing and repayment of the state debt in foreign currency.

In particular, USD 521.4 million is aimed at servicing and repayment of foreign currency bonds, USD 37.0 million - debt to the EBRD, and USD 46.6 million - debt to other international creditors.

In addition, Ukraine paid USD 118.8 million to the International Monetary Fund.

Last month, the NBU sold USD 1,632.7 million on the foreign exchange market and bought USD 63.9 million for reserves.

Therefore, the net sale of currency by the National Bank in November decreased to USD 1,568.8 million.

The NBU's interventions on the sale of foreign currency decreased for the second month in a row.

Such dynamics in November are associated with stable foreign currency receipts from exporters, primarily the agro-industrial complex.

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.

The National Bank allowed banks to sell more currency to the public.

Thus, from September 6, the amount of cash currency that the bank can offer to the population will include the entire amount of non-cash currency purchased by it from April 13, 2022, instead of half of it.