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Ukraine’s reserves have exceeded the pre-war level – NBU

Photo: NBU Press Center

The regulator’s net foreign currency sales in November fell to $1.57 billion. The index fell for the second month in a row.

In November, Ukraine’s international reserves increased by $2,707.2 million (by 10.7%). On November 1, the amount of reserves reached $27,951.4 million, the press service of the National Bank reported on Tuesday, December 6.

It is indicated that this is more than when the Russian invasion began – then the reserves reached $ 27,422.2 million

“Reserves increased by 10.7% in November, supported by robust international aid flows, lower net foreign exchange sales by the National Bank, and moderate repayment of the country’s foreign currency debt,” the regulator explained. .

The government’s foreign currency accounts at the National Bank received $4,616.9 million. theirs:

  • 2,530.0 million dollars – from the European Union;

  • $1,500.0 million from the United States through the World Bank Trust Fund;

  • 517.8 million dollars – from the placement of foreign currency bonds of the internal state loan (OVGZ);

  • $69.1 million from other international lenders.

At the same time, the government of Ukraine paid $605.0 million for the servicing and repayment of the state debt in foreign currency. In particular, $521.4 million was used to service and repay foreign currency government bonds, $37.0 million – debt to the EBRD, and $46.6 million – debt to other international creditors. In addition, Ukraine paid the IMF $118.8 million.

Last month, the NBU sold $1,632.7 million in the foreign exchange market and bought back $63.9 million for reserves. USA. The regulator’s net cash sales in November fell to $1,568.8 million. The interventions of the NBU to sell foreign currency decreased for the second month in a row.

Such dynamics in November are associated with stable foreign exchange earnings from exporters, mainly from the agro-industrial complex. Financial instruments are revalued (as a result of changes in market value and exchange rate). Last month, their value increased by $380.7 million.

“The current volume of international reserves provides funding for 3.5 months of future imports, which is sufficient to meet the obligations of Ukraine and the current operations of the government and the National Bank,” the report said. .

Earlier, the National Bank was pessimistic about the growth of gold and foreign exchange reserves. They believe that the indicator will return to the pre-war level no earlier than 2024.

Also, the NBU said that strikes by Russian invaders in the energy sector will affect Ukraine’s reserves – the central bank will have to increase interventions.

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Source: korrespondent

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