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Ukraine’s reserves have been declining for four consecutive months

Photo: NBU Press Center

The NBU’s interventions in the interbank market and debt repayments were partially offset by proceeds from international partners.

At the end of November, Ukraine’s international reserves decreased by 0.5% – to $38.785 billion. This trend continues for the fourth consecutive month, the National Bank reported on Wednesday, December 6.

“The NBU’s interventions to maintain the stability of the exchange rate and the country’s debt payments were largely offset by revenues from international partners,” the statement said.

Thus, the net sales of NBU currency amounted to $2.453 billion. And the government of Ukraine paid off $109 million in public debt. In addition, $250 million was paid to the IMF.

At the same time, $2.329 billion was transferred to the government’s foreign currency accounts at the National Bank. From this value:

  • $1.636 billion – macro-financial assistance from the EU;

  • $404 million from the World Bank, including $400 million guaranteed by Great Britain;

  • $287 million – from the placement of foreign currency domestic government loan bonds (OVDP).

In addition, in November, as a result of the revaluation, the value of financial instruments increased by $284 million.

“The current volume of international reserves provides financing for 5.2 months of future imports,” the regulator said.

We remind you that in July, Ukraine’s reserves set a historical record of $41.7 billion. After that they started to refuse. In October they fell by almost 2%. So in November the rate of decline in reserves was significantly reduced.

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Source: korrespondent

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