In Ukraine decreased international reserves

В Украине сократились международные резервы

Ukraine’s international reserves in may decreased by 1.3% to 25.4 billion USD.

International reserves of Ukraine, according to preliminary data, as of June 1 totaled 25,372 bn., which is 1.3% lower than a month earlier.

As reported on the website of the National Bank of Ukraine in may, the reserves fell by 1.3%, however, remain at a level close to the beginning of the year.

“The decrease in reserves in the past month, associated primarily with the repayment of a significant part of the current public debt obligations”, – stated in the message.

In General, the dynamics of reserves during the month was determined by such factors as operation of government in public debt management. So, for the servicing and repayment of public and publicly guaranteed debt in foreign currency in total was sent to 1,476 billion., of this amount 1,009 billion. been paid on bonds of external state loan (government bonds), 337,7 million dollars. – bonds of domestic government loan (government bonds) denominated in foreign currency, us $ 60 million. – obligations to the International monetary Fund, and the rest – on other debts to foreign creditors.

According to the NBU, the level of reserves was partially offset by new acquisitions in favor of the government in the amount of 418,8 million. including through the placement of foreign currency government bonds on 368,8 million dollars.

Also on the dynamics of the reserves was influenced by the operations of the national Bank on the interbank currency market.

“The supply of currency from the business continued to exceed demand, so taking advantage of a favorable situation, the national Bank bought excess amount of currency to replenish international reserves. In may the national Bank bought 660,6 million dollars. Interventions by selling foreign currency were not conducted”, – stated in the message.

In addition, the dynamics of the reserves was affected by the revaluation of financial instruments will fluctuate because of changes in market value and exchange rates. Last month, their cost is increased by 73,4 million dollars.

The NBU said that the current volume of international reserves covers 4.4 months of future imports, which is sufficient for fulfillment of Ukraine’s obligations and current operations of the government and the National Bank.

In 2019, the international reserves of Ukraine grew by 22% to 25.3 billion dollars, reaching a seven-year high.

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