Ukraine’s international reserves in 2018 grew by 10.6% YoY, to $20.820 billion, updating a five-year record, according to the National Bank.
The last time such figures were reported was in October 2013. The regulator said the reserves were successfully accumulated due to Ukraine securing external financing and the NBU buying up the excessive currency on the interbank market. Last year, the purchase of foreign currency by a regulator exceeded its sale by $1.4 billion, while inflows from the International Monetary Fund, the European Union, and the World Bank amounted to $2.4 billion.
Also, the government attracted $6.1 billion on foreign and domestic markets. Payments from reserves aimed at servicing and repaying the public debt in foreign currency in the said period amounted to $8.1 billion. The value of financial instruments rising by $230 million has also contributed to Ukraine massing up reserves. It is noted that in December 2018, international reserves grew by $3.108 billion, or by 17.5%, and as of January 1, 2019, reserves covered 3.5 months of future imports. (UNIAN/Business World Magazine)
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