Preliminary data suggests that as of September 1, 2015, Ukraine's international reserves totaled USD 12,617 million in the equivalent. In August, the international reserves increased by USD 2,241 million.
The disbursement of the next tranche of the loan, amounting to USD 1,649.7 million, under the EFF primarily contributed to the growth of the international reserves. The increase in the international reserves was also due to the allocation of USD 508.1 million to the Government of Ukraine by the International Bank for Reconstruction and Development and the European Commission. In addition, the proceeds from the swap transaction and the CNY/USD conversion amounted to USD 403.3 million.
In addition, the National Bank of Ukraine kept on purchasing FX in the interbank foreign exchange market. The regulator’s net purchases of foreign exchange totaled USD 9.2 million.
Ukraine’s international reserves expanded despite the need to make hefty payments amounting to USD 249.2, which were related to the repayment and servicing of public and publicly guaranteed debt denominated in foreign exchange. In August, the debt service payments on external sovereign bonds and government securities amounted to USD 69.9 million and debt payments due to the IMF totaled USD 49.5 million.
Currently, the amount of international reserves held by Ukraine is sufficient to enable the Government and the National Bank of Ukraine to settle their foreign debt obligations and current operations.