In February, international reserves decreased by 3.5% to USD 28.865 billion.
The NBU has said this in a statement, Ukrainian News Agency reports.
As of March 1, 2020, Ukraine's international reserves, according to preliminary data, made USD 28,864.6 million (equivalent).
In February, they decreased by 3.5% as a result of the interventions of the National Bank on the sale of currency to cover the difference between demand and supply in the foreign exchange market of Ukraine, which were largely compensated by foreign exchange investments in favor of the government.
In general, during February 2023, a number of factors determined the dynamics of international reserves.
In February 2023, according to the balance sheet data, the National Bank sold USD 2,479.7 million on the foreign exchange market and bought back USD 27.7 million to reserves.
Consequently, the net sale of the NBU currency last month decreased by USD 609 million compared to January 2023 - to USD 2,452.0 million.
The decrease in currency interventions of the NBU compared to the previous month is due to both the final exhaustion of pressure from additional budget expenditures at the end of 2022, and the stabilization of exchange rate expectations due to the consistent monetary policy of the NBU and the refusal to directly finance the budget deficit in 2023.
The government's foreign exchange accounts at the National Bank received USD 2,395.8 million.
Of this amount:
- USD 2,065.4 million was received from the World Bank, in particular, USD 1,246.9 million from the United States (through the World Bank trust fund);
- USD 330.4 million was received from the placement of foreign currency bonds of government domestic loans (OVDPs).
The Government of Ukraine paid USD 570.4 million for servicing and repayment of public debt in foreign currency, of which USD 354.0 million for servicing and repayment of foreign currency government bonds, USD 154.1 million for debt to the World Bank, the rest - debt to other international creditors.
In addition, Ukraine paid USD 306.3 million to the International Monetary Fund.
The current volume of international reserves provides funding for 3.7 months of future imports.
As Ukrainian News Agency earlier reported, in 2022, international reserves decreased by 7.9% to USD 28.5 billion.
In 2021, international reserves increased by 6% to USD 30.941 billion.
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