Ukraine’s foreign reserves up to $25.2B in Oct - NBU

Ukraine’s foreign reserves up to $25.2B in Oct - NBU

The international reserves of Ukraine increased by 5.5%, amounting to US$25.24 billion as of November 1, according to preliminary estimates.

That’s according to the National Bank press service, Ukrinform reports.

"As of November 1, 2022, Ukraine's international reserves amounted to %25,244.2 million, according to tentative data. They increased by 5.5% thanks to stable inflows from international partners and a decrease in the net sale of foreign currency by the National Bank," the report reads.

In general, the dynamics of foreign reserves during September were determined by several factors: firstly, public debt management operations; secondly, the National Bank's operations on the interbank foreign exchange market; and thirdly, the revaluation of financial instruments (as a result of changes in market value and exchange rates).

Read also: New IMF mission to start work on Ukraine from Nov 11 – NBU Governor

It is noted that last month, $4.16 billion was deposited into the government's currency accounts at the National Bank. Of them, $1.95 billion came from the European Union, $1.28 billion – from the International Monetary Fund, $498.8 million – from the World Bank, and $424.8 million – from placing domestic government bonds denominated in foreign currency. The Government of Ukraine paid $684.1 million for the servicing and repayment of foreign currency public debt. In particular, $561.5 million is directed to service and repay foreign currency bonds, $84.5 million dollars – the loan from the World Bank, and USD 38.1 million – debt to other international creditors. In addition, Ukraine paid $85.1 million to the International Monetary Fund.

Also, the National Bank last month sold $2.09 billion on the foreign exchange market and repurchased $47.7 million to replenish reserves. Therefore, the net sale of foreign currency by the National Bank in October decreased to $2.05 billion dollars.

As reported by Ukrinform, Ukraine's foreign reserves decreased by 5.9% in September, amounting to $23.93 billion as of October 1.

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