Preliminary data suggests that in May 2015 Ukraine's international reserves increased by over USD 287 million and as of June 1, 2015 totaled USD 9,918 million in the equivalent.
The increase in the amount of the international reserves was recorded in spite of the fact that the Ukrainian government made hefty payments related to the repayment and servicing of public and publicly guaranteed debt denominated in foreign exchange in the amount of USD 758.7 million, including interest payments on external sovereign bonds and interest and principal payments on government securities (USD 605.6 million) and debt payments due to the IMF (USD 32.4 million).
The growth in foreign exchange reserves was attributable to the positive balance of NBU interventions in the interbank market. In May, NBU interventions involving purchases of foreign currency stood at USD 168.7 million. USD 100.0 million was sold to Naftogaz of Ukraine NJSC through targeted foreign exchange interventions. USD 1 billion in proceeds raised from the placement of U.S.-guaranteed external sovereign bonds also contributed to the increase in Ukraine's international reserves.
As of today, 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.