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In January International Reserves of Ukraine Remained at the Level of USD 20.8 Billion

6 February 2019

Press Release


Preliminary data suggests that as of 1 February 2019 the international reserves accounted for USD 20,819.7 million (in the equivalent) remaining at the previous year level. The following factors had been determining the dynamics of the volume of international reserves during the month:


      government operations. Spending on servicing and repayment of public and publicly guaranteed debt in foreign currency amounted to USD 883.9 million in the equivalent. This amount included USD 808.1 million spent on servicing and repayment of domestic government bonds. The cost was partly offset by earnings from the placement of domestic government bonds amounting to USD 620.7 million (in the equivalent).


      NBU interventions. In January, the NBU’s net FX purchases in the interbank market increased the reserves by USD 136.1 million.


In particular, to smooth out the exchange rate volatility, within a month, the NBU sold USD 54.3 million, including USD 30.0 million through foreign exchange interventions at the best price.


In January, the foreign currency supply was generally higher than demand, in particular due to the stable inflow of foreign exchange earnings from exporters of agricultural and metallurgy sectors, net sales of foreign currency to banks by individuals, as well as nonresident investments in hryvnia government securities. This enabled the NBU to purchase USD 190.4 million in the interbank FX market, including USD 107.5 million at the best price, without influencing hryvnia exchange rate movements, which were shaped by underlying factors.


      the revaluation of financial instruments (change in the market value and in the exchange rate of hryvnia against foreign currencies). Last month, their value increased by USD 126.3 million (in the equivalent).


Overall, as of 1 February 2019, the international reserves remained at their five-year high, covered 3.4 months of future imports and were sufficient for Ukraine to meet its obligations and for the government and the NBU to conduct their current transactions.


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

      no later than on the seventh day following the reporting month – for preliminary data

      and revised data, compiled and distributed no later than the twenty-first day following the reporting month.


Revised data are available  here.

Last modification   06.02.2019