In February, the government’s currency accounts at the National Bank received less than $2.5 billion.
In February, Ukraine’s international reserves decreased by $1,063.65 million (by 3.5%). As of March 1, the value of reserves reached $28,864.56 million, the National Bank reported on Tuesday, March 7.
It is indicated that in general in February the dynamics of international reserves is determined by a number of factors.
First, the National Bank conducted transactions in the foreign exchange market. The regulator sold 2,479.7 million dollars. and redeemed in reserves – 27.7 million dollars. As a result, the NBU’s net sales of foreign currency last month decreased by $609 million compared to January 2023, to $2,452.0 million.
“The decrease in the volume of foreign exchange interventions by the NBU compared to the previous month is due to the final exhaustion of pressure from additional budget spending at the end of 2022, and to the stabilization of exchange rate expectations due to the constant monetary policy of the NBU and the refusal to directly finance the budget deficit in 2023,” the statement said. in the message.
Second, the government’s foreign currency accounts with the NBU received $2,395.8 million. Of this amount: 2,065.4 million dollars. received from the World Bank, including 1,246.9 million dollars from the USA (through the WB trust fund) and 330.4 million dollars. – from the placement of foreign currency government bonds (OVGZ).
The Government of Ukraine paid 570.4 million dollars for the servicing and repayment of state debt in foreign currency, of which 354.0 million dollars. – for servicing and redemption of foreign currency government bonds, 154.1 million dollars. – debt to the World Bank, the rest – debt to other international creditors. In addition, Ukraine paid the IMF $306.3 million.
Third, in February, due to revaluation, the value of financial instruments decreased by $130.7 million.
It should be noted that the last time Ukraine’s reserves decreased was in September 2022. After that, they grew for four consecutive months and even exceeded the pre-war level. So, according to the results of January, the reserves increased by another 5% and reached almost 30 billion dollars.
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Source: korrespondent
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