2024-02-06T17:06:00+02:00 Economy 2024-05-15T04:18:16+03:00

Ukrainian news

Ukrainian news

Ukraine’s international reserves down 4.9% to USD 38.5 billion in January

Ukraine’s international reserves down 4.9% to USD 38.5 billion in January

In January 2024, the international reserves of Ukraine decreased by 4.9% to USD 38.5 billion.

This follows from a NBU statement, the Ukrainian News Agency reports.

As of February 1, 2024, Ukraine's international reserves, according to preliminary data, amounted to USD 38,525.0 million.

This dynamics is due to the NBU's foreign exchange interventions to maintain exchange stability, debt payments of the country in foreign currency and lower volumes of international aid receipt compared to previous months.

In general, during January 2024, a number of factors determined the dynamics of international reserves.

First, the operations of the National Bank in the foreign exchange market of Ukraine.

According to the balance sheet data, the National Bank sold USD 2,549.1 million on the foreign exchange market and bought back USD 16.0 million to reserves.

So, the net sale of currency by the NBU in January amounted to USD 2,533.1 million, a decrease of 29% compared to December.

Second, revenues in favor of the government and payments for the maintenance and repayment of public debt.

The government's currency accounts in the National Bank received USD 898.9 million.

From this amount:

- USD 512.1 million – from the placement of government domestic loan bonds (OVDPs);

- USD 386.8 million - loans and grant funds from Japan received through the World Bank.

USD 441.6 million was paid for servicing and repaying government debt in foreign currency, of which:

- USD 368.5 million - servicing and repayment of foreign currency government bonds;

- USD 69.6 million - servicing and repayment of debt to the World Bank;

- USD 3.5 million - payment of debt to other international creditors.

Third, the dynamics of international reserves was determined by the revaluation of financial instruments (due to changes in market value and exchange rates).

In January, the revaluation increased the value of financial instruments by USD 86.3 million.

The current volume of international reserves provides funding for 5.1 months of future imports.

As Ukrainian News Agency earlier reported, in 2023, Ukraine's international reserves grew by 42% to USD 40.5 billion.

In 2022, international reserves fell by 7.9% to USD 28.5 billion.

In 2021, international reserves rose by 6% to USD 30.941 billion.