Ukraine's international reserves rose to nine-year high

Source : 112 Ukraine

The last time that this mark was surpassed was in September 2012
18:05, 8 September 2021

Open source

As of September 1, Ukraine's international reserves, according to preliminary data, amounted to $ 31.6 billion (equivalent). This is the highest level of these reserves in the past nine years. This is stated on the website of the National Bank of Ukraine. 

The last time that this mark was surpassed was in September 2012.

International reserves increased by 9.2% in August, primarily due to the receipt of SDR 1,928.2 million from the IMF as SDR allocation.

Related: Part of aid from IMF will be directed to reserves of National Bank, - Zelensky's adviser

International reserves in August were also affected by the following:

  • NBU transactions in the interbank FX market. FX supply in the interbank FX market outweighed demand for most of August, allowing the NBU to buy $ 368.8 million. At the same time, the regulator sold $ 20.5 million during the month to smooth out excessive exchange rate fluctuations. Overall in August, the NBU made net FX purchases of $ 348.3 million in the interbank FX market.
  • transactions related to public debt management. The government received an equivalent of $ 8.8 million in FX inflows. At the same time, the government spent an equivalent of USD 188 million to service and repay FX public debt. That includes $ 33.7 million in Eurobond repayments, and an equivalent of $ 18.2 million to redeem and service domestic government debt securities. The rest of the funds went to meet the government’s other FX commitments. The government and the NBU repaid an equivalent of $ 204.3 million to the IMF in August.
  • revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations). These instruments declined in value by an equivalent of $ 31.6 million last month. International reserves now cover 4.4 months of future imports, sufficient for Ukraine to meet its commitments, and for the government and the NBU to make their current transactions.
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