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Foreign currency reserves of Ukraine decreased by 1.3% in May 2020

Source : 112 Ukraine

The decrease in reserves over the past month is primarily due to the repayment of state and state-guaranteed debt
16:25, 6 June 2020

South China Morning Post

As of June 1, 2020, the international reserves of Ukraine amounted to 25 371 800 000 dollars. This was reported by the press service of the National Bank of Ukraine.

It is reported that in May, the country's international reserves decreased by 1.3%.

"The decrease in reserves over the past month is primarily due to the repayment of a significant portion of current obligations on government debt," the report said.

$ 1.47 billion was allocated to pay off state and state-guaranteed debt.

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At the same time, taking advantage of the favorable situation, the National Bank bought out excess currency and replenished international reserves.

“In May, the National Bank purchased $ 660.6 million. There were no interventions to sell foreign currency,” the Bank noted.

It is specified that the current volume of international reserves covers 4.4 months of future imports, which is sufficient to fulfill the obligations of Ukraine and current operations of the government and the National Bank.

As we reported, the real gross domestic product (GDP) of Ukraine for the I quarter of 2020 (January, February and March) decreased by 1.5% compared with the first quarter of 2019.

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