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Ukraine’s International Reserves Hit the Highest Level Since the Beginning of 2014

 5 September 2017

Press Release


Preliminary data suggests that as of 1 September  2017, Ukraine's international reserves amounted to the equivalent of  USD 18,034.8 million.    The international reserves last exceeded this figure in early 2014. The international reserves have risen by 16% year-to-date. In particular, the international reserves increased by USD 240 million or 1.3% in August.


In August 2017, Ukraine's international reserve dynamics were determined by a number of factors:


      Some USD 351.5 million  in proceeds  was raised by the Government of Ukraine through the issuance of domestic government bonds  denominated in foreign currency.   


      In August, the NBU intervened in the  interbank market by purchasing foreign currency, with the NBU’s net FX purchases amounting to USD 234.0 million.  


In particular, owing to a favorable global price environment for major Ukrainian export commodities, primarily metallurgical exports, the NBU was able to purchase USD 285.3 million, including USD 62.0 million purchased through interventions with request for best quotation.


Also, on 31 August 2017, with the demand for foreign currency exceeding its supply and FX market volatility increasing, the NBU held one FX sale auction through which USD 44.3 million was sold.  Another USD 7.0 million was sold by the NBU through interventions with request for best quotation.


      some USD 448.7 million was used on payments of the Ukrainian government and the NBU due to the IMF.


      Some USD 50.1 million was used for repayments and servicing of public and publicly guaranteed debt denominated in foreign currency, including USD 12.3 million in principal and interest payments on domestic government bonds denominated in foreign currency.


As of 1 September 2017, the amount of Ukraine’s international reserves is sufficient to cover 3.6 months of future imports and enable the Government and the NBU to settle their foreign debt obligations and current operations.



For reference


Data on international reserves and foreign currency liquidity are compiled and disseminated on a monthly basis:

not later than the seventh day following the reporting month – preliminary data;

not later than the twenty-first day following the reporting month – revised data.

Revised data are available at: https://bank.gov.ua/doccatalog/document?id=46944.

Last modification   05.09.2017