Ukraine’s reserves continued to grow

The positive dynamics is due to the significant volume of revenues from Western countries, which exceeded the net sales of foreign currency of the National Bank and debt payments of Ukraine.

By the end of August, international reserves of Ukraine increased by 13.7% and on September 1 reached $42.3 billion. This was reported by the National Bank.

“This dynamics is due to the significant volume of income from international partners, which exceeds the net sales of the currency of the National Bank and payments of the country’s debt in foreign currency,” explained the regulator.

The NBU recalled that in August the government received $8.5 billion in foreign currency accounts. Of this amount: more than $4.5 billion is from the EU as part of the Ukraine Facility instrument, as well as almost $3.9 billion from the World Bank.

At the same time, the net sale of foreign currency in the interbank market reached almost $2.7 billion, which decreased by 18.4% compared to July.

For the service and repayment of the public debt in foreign currency, $724.1 million was paid, of which:

• $266.0 million – World Bank debt servicing and repayment;

• $239.9 million – transaction related payments (TPPP);

• $130.1 million – government derivatives payments;

• $88.1 million – payment to other international creditors.

In addition, Ukraine paid the International Monetary Fund $392.4 million.

Also in August, due to revaluation, the value of financial instruments increased by $443 million.

We remind you that Ukraine’s reserves have been declining for four months in a row, after they reached a historical maximum of $43.7 billion. The biggest decrease was in May – almost 8%.

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