The international reserves of Ukraine as of September 1, 2022, according to preliminary data, amounted to $25 billion 436 million (in equivalent), which is 13.6% more than at the beginning of June ($22.757 billion), according to data from the National Bank of Ukraine, published in Tuesday.
“As of September 1, 2022, Ukraine’s international reserves, according to preliminary data, amounted to $ 25.436 billion. In August, they grew by 13.6% due to the receipt of a significant amount of international assistance against the backdrop of the country’s moderate debt payments in foreign currency and smaller interventions by the National Bank to sell foreign currency “, the controller explained.
As reported, in June, the fall in reserves amounted to 1.6%, or $371.5 million.
The regulator clarified that net international reserves in August increased by 26.6%, or $3 billion 342 million, to $15.917 billion, while in July they fell by 2.9%, or $377 million (to $12.575 billion).
According to the National Bank, in August the dynamics of international reserves was affected by assistance from foreign partners and operations to manage public debt. In particular, foreign exchange receipts to the accounts of the Ukrainian government with the NBU in August amounted to $4.788 billion, including from the United States – $3 billion, from the EU – $1 billion, from Canada – $349.3 million, from Italy – $205.6 million, from the placement domestic government bonds – $99.6 million, from other creditors – $87.4 million.
The total volume of board payments for servicing and repaying state debt in foreign currency amounted to $171.9 million, including $165.4 million directed to repay debt to international creditors, $6.5 million – to service government bonds.
In addition, Ukraine transferred $221.1 million to the IMF.
International reserves were also affected by NBU operations on the interbank market. In particular, they sold $1.641 billion on the foreign exchange market and bought $311.7 million into reserves, due to which the balance of interventions was negative and amounted to $1.33 billion.
It is indicated that the sale of foreign currency by the Central Bank decreased due to the adjustment of the official exchange rate to UAH 36.57/$.
In addition, the reserves were affected by the revaluation of financial instruments, in particular, their decrease by $16.4 million.
“The current volume of international reserves provides financing for four months of future imports, which is enough to meet the obligations of Ukraine and the current operations of the government and the National Bank,” the bank said.
As reported, at the beginning of 2022, Ukraine’s international reserves amounted to $30.941 billion, net international reserves (NIR) – $20.767 billion.
