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International Reserves of Ukraine Account for USD 18.4 Billion

6 March 2018

Press Release

 

According to preliminary data, as of 1 March 2018, Ukraine's international reserves were practically the same as in February i.e. the equivalent of USD 18,409.8 million.

 

International reserves in February were primarily replenished on the account of FX market interventions. An inflow of foreign capital, together with an increase in exporters’ foreign exchange earnings against the backdrop of a favorable global environment had a positive effect on interbank foreign currency supply. Thus, the NBU could buyback the surplus currency on the market to replenish reserves without impeding the strengthening of the hryvnia foreign exchange rate.

 

In February, the NBU bought the total of USD 426.9 million on the interbank market of Ukraine, whereof USD 222.0 million were purchased through interventions with request for best quotation. Besides, the NBU sold USD 30.0 million through interventions with request for best quotation. Hence, the NBU’s net FX purchases accounted for USD 396.9 million.

 

Also, in February reserves increased by USD 137.4 million as a result of the Government’s sale of domestic government bonds in foreign currency.

 

At the same time, in February, the Government and the NBU repaid the government debt in foreign currency at the amount of USD 536.8 million. Additionally, some USD 465.9 million were paid to the IMF. Another USD 70.9 million were used to service and repay the government debt in foreign currency, whereof USD 16 million were spent on servicing domestic government bonds in foreign currency.

 

Furthermore, the effect of revaluation of financial instruments (change in market value, exchange rates of hryvnia against foreign currencies) on reserves accounted for USD 41.9 million.

 

All in all, as of 1 March 2018, the amount of the international reserves covers 3.5 months of future imports and is sufficient to meet Ukraine’s obligations and execute day-to-day operations of the government and the NBU.

 

Data on the international reserves and foreign currency liquidity are compiled and distributed 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.

 


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Last modification   06.03.2018