Ukraine’s international reserves as of January 1, 2023, according to preliminary data, amounted to $28.491 billion, an increase of 1.9%, or $536.4 million, compared to November 2022, thanks to currency inflows from international partners that exceeded NBU interventions to sell currency to support the fixed exchange rate.
According to the NBU on its website on Friday evening, they decreased by 7.9%, or $2.45 billion, for the year as a whole.
The National Bank specified that net international reserves in December increased by 3.3%, or $579 million – to $18.318 billion, but for the year they decreased by 11.8%, or $2.45 billion.
According to the regulator, in December, the dynamics of international reserves was affected by the state debt management operations. In particular, currency receipts to the accounts of the Ukrainian government in the NBU amounted to $4.468 billion in December, including $598.7 million from the EU, $2.03 billion from the U.S. through the World Bank Trust Fund, $540.7 million from placement of government bonds, $402 million from the World Bank, $367.8 million from the Canadian government and $528.9 million from other international creditors.
The total amount of payments of the government for servicing and repayment of government debt in foreign currency was $833.9 million, including $119.6 million directed to repay debt to international creditors and $714.3 million to service government bonds.
Besides, Ukraine transferred $166.2 mln to the IMF.
The international reserves were also affected by the NBU transactions at the interbank market. In particular, it sold $3.193 bln at the currency market and bought $29.6 mln to the reserves, due to which the interventions balance was negative $3.163 bln.
In addition, the reserves were affected by an upward revaluation of financial instruments by $231.6 mln.
According to the NBU, the current volume of international reserves provides financing for 3.6 months of future imports, which is sufficient to meet the obligations of Ukraine and the current operations of the government and the National Bank.
As reported, at the beginning of 2022, Ukraine’s international reserves stood at $30.941 billion, net international reserves (NIR) at $20.767 billion.
