International reserves amounted to USD 28.6B as of March 1 – Danylyshyn

"The volume of international reserves of the National Bank as of March 1, 2021 amounted to USD 28.6 billion, which is four times higher than the planned volume of payments by the government and the National Bank on external debt to non-residents in 2021 (USD 7.2 billion), including to the IMF (USD 1.6 billion)," Danylyshyn wrote on his Facebook page.

According to him, last week the hryvnia exchange rate on the interbank market was in a sideways trend, not exceeding UAH 28 for the U.S. dollar. A slight excess of demand for foreign currency on the part of bank clients over its supply (on average USD 8 million per day) was formed mainly in the forward segment of the market. At the same time, the sale of foreign currency by individuals in the cash market grew, which allowed banks to increase the purchase of foreign currency.

"Thus, the stability of fundamental trends and the adequacy of the National Bank's reserves continue to maintain the firmness of the hryvnia exchange rate within the framework of the floating exchange rate in accordance with the Basic Principles of Monetary Policy for 2021," Danylyshyn summed up.

As Ukrinform reported, as of February 1, 2021, Ukraine's international reserves amounted to USD 28.82 million.

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