Reserves are growing thanks to receipts from international partners that exceed the net sales of NBU currency and debt payments of Ukraine.
In July, Ukraine’s international reserves reached nearly $41.7 billion. This is a record figure since our state’s independence, the National Bank reported on Monday, August 7.
“On August 1, 2023, international reserves of Ukraine, according to preliminary data, reached USD 41,718.6 million. In July, they grew by 6.9%, updating the record for the second time in the history of independence of Ukraine,” said the statement .message.
The regulator recalled that before that, the highest level of reserves was recorded on July 1, 2023 – $39,026.5 billion.
In general, last month the dynamics of international reserves was determined by a number of factors. First, it is a receipt in favor of the government and payments for the servicing and repayment of the public debt. The government’s foreign currency accounts with the NBU received $4,681.3 million.
The government paid $394.6 million for the servicing and repayment of the state debt in foreign currency, of which: $319.6 million for servicing and foreign currency repayment of government bonds, $66.8 million for the loan to the World Bank, and the others are for debt to other international creditors.
Second, transactions with the NBU in the foreign exchange market. In July, the regulator sold nearly $1.9 billion in the foreign exchange market and bought back $12.9 million for reserves. The NBU’s net sales of foreign currency last month amounted to $1.86 billion.
Third, due to the revaluation of financial instruments (as a result of changes in market value and exchange rate), $266 million was added.
Recall that over the past week, the NBU has increased sales of foreign currency in the interbank market – up to $460.31 million.
However, in July Ukrainians sold more dollars than they bought. Net sales were $76.6 million per month.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.