Ukraine’s international reserves currently stand at $27.4 billion, representatives of the National Bank of Ukraine (NBU) said at a meeting with the European Business Association (EBA) and the American Chamber of Commerce on April 15.
“The country’s foreign exchange reserves amount to $27.4 billion, which became possible thanks to the support of international partners – the IMF, the EU (which provided the first tranche of 600 million euros), the EBRD, etc. The total amount of assistance received from international partners is $3.8 billion “, – is noted in the release of the EBA following the meeting.
Earlier, the NBU reported that Ukraine’s international reserves as of April 1, 2022 amounted to $28.1 billion, which is 2% more than at the beginning of March ($27.5 billion).
Representatives of the National Bank at the meeting also pointed out that in general, since the beginning of the war, the volume of net sales of foreign currency by the NBU amounted to $ 2 billion, and recently there has been a tendency for currency supply to prevail over demand for it.
As one of the meeting participants specified to the Interfax-Ukraine agency, Deputy Head of the National Bank Yuriy Heletiy said that the supply of foreign currency in April began to exceed the demand for it in the non-cash market from legal entities. According to him, the growth was caused by the gradual resumption of the work of enterprises of the mining and metallurgical complex, companies from the IT services sector.
Representatives of the National Bank also indicated that they do not yet see the need to introduce a mandatory sale of foreign currency.
Speaking about possible future steps to remove currency restrictions, the regulator admitted the possibility of certain relaxations in areas related to trade finance: settlements on export-import guarantees, letters of credit, while the return of other foreign loans will remain prohibited.
