Ukraine’s international reserves as of July 1, 2022, according to preliminary data, amounted to $22.757 billion (in equivalent), which is 9% less than at the beginning of June ($25.1 billion), according to the data National Bank of Ukraine (NBU), released on Thursday.
“As of July 1, 2022, Ukraine’s international reserves, according to preliminary data, amounted to $22.757 billion. In June, they decreased by 9% due to the sale of foreign exchange currency on the interbank market. The intensification of the flow of international assistance to Ukraine made it possible to partially comment appropriate interventions,” the regulator explained.
The central bank notes that the dynamics of reserves in June was affected by public debt management operations: the total volume of payments for servicing and repaying state and state-guaranteed debt in foreign currency amounted to $833.6 million in equivalent.
It is specified that $672.1 million of them were directed to the repayment of government bonds, $70.1 million – to service external government loans, and the rest of the amount – to settlements with other creditors.
At the same time, in June, foreign exchange earnings in favor of the government amounted to $2.763 billion in equivalent, including $967.4 million from the World Bank, $779 million from the government of Canada, $479.4 million from the Japan International Cooperation Agency, and $354.2 million from the placement of foreign currency government bonds.
In addition, the NBU and the government of Ukraine in June paid $166.2 million to the International Monetary Fund (IMF).
The NBU operations on the interbank market also affected the dynamics of reserves. In June, the regulator sold $3.987 billion on the foreign exchange market and bought $31 million.
In addition, the dynamics of the indicator was affected by the revaluation of financial instruments (changes in the market value and the exchange rate of the hryvnia against foreign currencies): last month their value decreased by $152.2 million in equivalent, according to NBU data.
The regulator also clarified that the net international reserves of Ukraine in June decreased by $2 billion, or by 13.4%, to $12.9 billion.
As reported, at the beginning of 2022, Ukraine’s international reserves amounted to $30.941 billion, net international reserves – $20.767 billion.
