The amount of international reserves remains sufficient to maintain the stability of the foreign exchange market, the National Bank assured.
At the end of October, Ukraine’s international reserves decreased by 6%, or by $2.32 billion, to $36 billion 578 million. The National Bank announced this on Wednesday, November 6.
The dynamics of international reserves in October 2024 is predetermined by the foreign exchange interventions of the NBU to cover the deficit in the structure of foreign currency in the market and smooth out changes in the exchange rate, as well as debt payments of the country in foreign currency, the report said.
It is indicated that these transactions were partially offset by proceeds from international partners and from the placement of foreign currency bonds of internal government loans (foreign currency government bonds).
In particular, the regulator’s net cash sales in October reached $3.430 billion. And the government’s foreign currency accounts at the National Bank received $1.991 billion.
Of these:
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$1.111 billion – from the IMF;
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$569.1 million – from the placement of foreign currency government bonds;
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$289.5 million – from Canada;
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$21.6 million – grant funds from Serbia.
$943.4 million was paid for the servicing and repayment of the public debt in foreign currency. In addition, Ukraine paid the IMF $87.9 million.
In October, due to revaluation, the value of financial instruments increased by $143.8 million.
“Despite the decrease, the amount of international reserves is sufficient to maintain the stability of the foreign exchange market. According to the forecast of the National Bank, the level of international reserves at the end of December 2024 will reach $43.6 billion, which considered. financing assurances provided by the partners,” the statement said.
We remind you that in August, Ukraine’s international reserves increased by 13.7% and reached $42.3 billion. This was the first increase after four straight months of decline.
It was also reported that in April of this year, Ukraine’s reserves reached a historical maximum of $43.7 billion.
Source: korrespondent
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