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 Ukraine's international reserves reached maximum level since early 2014, - NBU

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The international reserves of the National Bank of Ukraine (NBU) increased by 1.3 percent in August compared to July, up to $18.035 billion.

This was announced by NBU press service, Censor.NET reports.

"The last time the reserved reached this point was back in early 2014. Today the reserves are 16% higher than in the beginning of the year. In particular, they increased in August by $240 million, or 1.3 percent," the NBU report reads.

In August, the change in the volume of the reserves was affected by: the receipts in the amount of $351.5 million in favor of the government from the placement of government bonds in foreign currency; payments of the National Bank to the International Monetary Fund of $448.7 million; government payments on servicing and repayment of public debt in foreign currency for the amount of $50.1 million, of which $12.3 million was for servicing and repaying of government bonds in foreign currency; currency interventions of the National Bank at the inter-bank market, following which the net purchase of currency amounted to $234 million.

Read more: Inflation at 8.2 percent rate since beginning of 2017, - State Statistics Service


Due to favorable foreign economic conditions for Ukrainian export goods, first of all metallurgy, the National Bank bought $285.3 million (including $62 million for interventions in the form of a request for a better exchange rate) within a month.

On Aug. 31,due to excess of demand for currency over its offer and the corresponding increase in volatility in the currency market, the National Bank held one currency auction, during which it sold $44.3 million.

Another $7 million was sold by the National Bank for interventions in the form of a request for a better exchange rate.

As of Sept. 1, the volume of international reserves covers 3.6 months of future imports.

Since the beginning of the year, the international reserves have increased by 16% from $15.5 billion to $18 billion.
 
 
 
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