After falling to $27.84 billion in May, Ukraine’s international reserves returned to the level of the end of April and amounted to $28 billion in the middle of June, Head of the Council of the National Bank of Ukraine Bohdan Danylyshyn has said.
“The total net balance of foreign exchange interventions by the NBU since the beginning of 2021 has increased to $655 million, which, taking into account the government’s borrowings in foreign currency, has made it possible to expand the NBU’s international reserves to $28 billion,” he wrote on Facebook.
Danylyshyn said that in the interbank FX market during the last week there was a significant (about $43 million on average per day) prevalence of foreign currency supply over demand, which led to the strengthening of the hryvnia exchange rate by 0.8%, to UAH 27.00/$1 and allowed National Bank to buy back $375 million in a week.
The head of the NBU Council said that high prices for the main goods of Ukrainian exports – agricultural products, iron ore and steel, as well as an increase in the demand of nonresidents on government securities of Ukraine contributed to the increase in the supply of foreign currency by 18.7% by the first week of the month, with the demand decreasing by 2.7%.
As reported, at the beginning of this year, Ukraine’s international reserves amounted to $29.113 billion.
