The international reserves of Ukraine increased by 5.5%, amounting to $25.24 billion as of November 1, according to preliminary estimates of the National Bank.
“As of November 1, 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 October 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).
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 was directed to service and repay foreign currency bonds, $84.5 million – the loan from the World Bank and $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. (Ukrinform/Business World Magazine)