Ukraine’s international reserves in February, according to preliminary estimates of the National Bank of Ukraine (NBU), decreased by 3.8%, or by $1.47 billion – to $37.052 billion.
“Such dynamics is due to the NBU’s currency interventions to maintain exchange rate stability and the country’s debt payments in foreign currency, which were partially offset by receipts from international partners,” the NBU explained on its website on Wednesday.
Among other factors determining the volume of reserves, the NBU named operations in the foreign exchange market: in February, the regulator’s net sale of foreign currency amounted to $1.51 billion, which is 1.4 times less than in the previous month.
The National Bank noted that in February, $1.34 billion was transferred to the account of the Cabinet of Ministers in the NBU, while $1.13 billion was paid for servicing and repayment of state debt.
The central bank also indicated that the current volume of reserves was positively affected by the revaluation of the value of financial instruments, adding $199.5 million.
“The current volume of international reserves provides funding for 4.9 months of future imports,” the regulator stated.
As reported, the NBU in January lowered the forecast of Ukraine’s international reserves at the end of 2024g to $40.4 billion from $44.7 billion and to $42.1 billion from $45 billion at the end of 2025. For more details on the economy in Ukraine and around the world, see the video from the analytical project Experts Club – https://youtu.be/byJnfmie7bM?si=nWnf5J2CUrqaXF-j
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EXPERTS CLUB, INTERNATIONAL RESERVES, URAKIN
