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Ukraine’s international reserves remain at level of $20.8 billion

The volume of the international reserves remains at the level of five-year maximum and covers 3,4 months of the future import
19:48, 6 February 2019

National Bank of Ukraine

The international reserves of Ukraine made $20.8 billion as of February 1, 2019, and remained at the level of the beginning of the year as the National Bank of Ukraine (NBU) reported.

According to the NBU, the dynamics of the volume of the international reserves during a month was determined by a few factors. Firstly, the operations of the government on the service and payment of the state and publicly guaranteed debt in the foreign currency for total sum of $883,900 million (in the equivalent); secondly, the NBU interventions at the inter-bank currency market (the net purchase of the currency made $136,1 million in January); thirdly, the reassessment of the financial tools, in the result of which, the cost of the reserves increased by $126,3 million (in the equivalent).

Related: National Bank of Ukraine predicts GDP growth by 2,5% in 2019

“Totally, as of February 1, 2018, the volume of the international reserves remains at the level of five-year maximum and covers 3-4 months of the future import and it is enough for the fulfillment of the commitments of Ukraine and current operations of the government and the National Bank,” the message said.

In 2018, Ukraine’s national currency, hryvnia was recognized as one of the world’s most undervalued currencies according to the Big Mac Index.

Related: Ukraine's National Bank receives award of Central banking awards first ever

Besides, Ukraine expects two tranches from the IMF in 2019 under the stand-by program, which was opened last December.

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