Preliminary data suggests that as of 1 June 2016, Ukraine's international reserves amounted to the equivalent of USD 13.536 billion. Following March’s reduction, Ukraine’s international reserves have kept increasing for the second month in a row. In May, international reserves increased by 2.2% or by USD 295 million, exceeding the level reached at the beginning of 2016. Over the past 12 months, international reserves have expanded by 36.5%.
May’s increase in international reserves was primarily due to FX purchases by the NBU to smooth excessive exchange rate fluctuations in the interbank FX market and to replenish the reserves. In May, the NBU’s net FX purchases amounted to USD 332.7 million. In May, the National Bank of Ukraine held no FX sales auctions.
USD 271.1 million raised by the Government also contributed to the increase in international reserves.
Ukraine’s international reserves expanded despite the repayment and servicing of public and publicly guaranteed debt denominated in foreign currency by the Government of Ukraine. Ukraine paid back USD 176.8 million, including USD 124.8 million in interest payments on external sovereign bonds.
The Ukrainian Government and the NBU repaid a USD 52.3 million installment due to the IMF.
Currently, the amount of Ukraine’s international reserves is sufficient to cover 3.4 months of future imports and enable the Government and the NBU to settle their foreign debt obligations and current operations.
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.