More than $4.3 billion was received in the government’s foreign currency accounts at the National Bank last month.
At the end of May, Ukraine’s international reserves grew by 3.8% to $37.3 billion and reached the highest level in 11 years. A larger volume was recorded in August 2011, the report of the National Bank on Tuesday, June 6.
“International reserves increased thanks to stable and rhythmic receipts from international partners, which exceeded the net sale of foreign currency by the National Bank and the payments of the country’s debt in foreign currency,” the report said. .
Last month, the government’s foreign currency accounts with the NBU received $4.323 billion. In this amount:
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$1.616 billion – macro-financial assistance from the EU;
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$1.250 billion from the US through a World Bank trust fund;
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1.074 billion dollars – from the placement of foreign currency bonds of the internal state loan (OVGZ);
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$383.1 million – from the World Bank.
At the same time, the government of Ukraine paid $842.2 million for the servicing and repayment of the state debt in foreign currency. In addition, $195.5 million was paid to the International Monetary Fund.
Also in May, the NBU sold $1.9 billion in the foreign exchange market, which was 40.7% more than in April. This happened against the backdrop of the exhaustion of the seasonal factor (an increase in the sale of foreign currency by farmers for the sowing campaign), as well as difficulties in exporting food to neighboring countries and through the corridor of grain.
“At the same time, the receipts from international partners are significantly greater than the amount of interventions of the NBU to sell foreign currency, which was carried out to cover the difference between supply and demand in the foreign exchange market of Ukraine,” added the NBU.
As reported, at the end of April, the NBU raised the forecast of Ukraine’s international reserves at the end of 2023 to $34.5 billion from $27 billion in January.
It was also noted that by the end of 2022, the NBU transferred a record amount to the budget.
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Source: korrespondent
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