Preliminary data suggests that as of September 1, 2015, Ukraine's international reserves totaled USD 12,774 million in the equivalent. In September, the international reserves increased by USD 157 million.
Inflows of funds from Ukraine’s international and bilateral partners and cash inflows under swap agreements entered into with central banks of other countries have contributed to the increase in the stock of international reserves. In September, the Government received USD 522 million, including USD 498.7 million from the IBRD and USD 23.9 million (in the equivalent) from the Norwegian Government. Cash flows under the swap agreement entered into with Sweden’s Central Bank amounted to USD 500 million.
In addition, the NBU’s FX interventions in the interbank FX market have contributed to the build-up of international reserves. The regulator’s net purchases of foreign exchange amounted to USD 152.3 million. In particular, USD 143.7 million was purchased by the central bank through the FX auction conducted on September 17, 2015.
Ukraine’s international reserves expanded despite the need to make payments related to the repayment and service of the public and publicly guaranteed debt denominated in foreign exchange. In September, Ukraine paid back USD 72.9 million (excluding repayments due to the IMF), including USD 12.7 million in debt service payments on sovereign bonds. The Ukrainian Government and the National Bank of Ukraine made repayments of USD 175.7 million due to the IMF. Another USD 814.2 million was used on USD/CNY conversion to meet obligations denominated in Chinese RMB under swap agreements.
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.