Ukraine’s international reserves down 3.8% to USD 37.1 billion in February

As of March 1, 2024, Ukraine's international reserves, according to preliminary data, amounted to USD 37,052.0 million.

In February 2024, the international reserves of Ukraine decreased by 3.8%.

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

This dynamics is due to the NBU's foreign exchange interventions to maintain exchange stability and debt payments of the country in foreign currency, which were partially offset by receipts from international partners.

In general, during February 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 1,540.6 million on the foreign exchange market and bought back USD 31.9 million to reserves.

So, the net sale of currency by the NBU in February amounted to USD 1,508.7 million, decreasing 1.4 times compared to January.

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 1,336.2 million.

From this amount:

- USD 523.6 million – from the placement of government domestic loan bonds (OVDPs);

- USD 514.4 million - grant funds from Japan received through the World Bank;

- USD 295.0 million - grant funds from Norway received through the World Bank;

- USD 3.2 million - loans from the World Bank under the guarantee of Spain.

USD 1,129.5 million was paid for servicing and repaying government debt in foreign currency, of which:

- USD 796.7 million - servicing and repayment of foreign currency government bonds;

- USD 275.1 million - servicing and repayment of debt to the World Bank;

- USD 57.7 million - payment of debt to other international creditors.

In addition, Ukraine paid USD 379.0 million to the International Monetary Fund.

Third, revaluation of financial instruments (due to changes in market value and exchange rates).

In February, the revaluation increased the value of financial instruments by USD 199.5 million.

The current volume of international reserves provides financing for 4.9 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.

To request a correction, please send an email.