Preliminary data show that, as of 1 April 2021, Ukraine's international reserves stood at USD 27,035 million (in the equivalent). In March, the reserves decreased by 5% due to large repayments of external and internal public debt, which were partially offset by FX inflows to the government.
Overall, in March, international reserves were affected by the following factors:
- first, operations related to managing the public debt.
The government spent an equivalent of USD 1.3 million on servicing and repayment of FX public debt. Specifically, USD 570.5 million went towards the servicing Eurobonds and the USD 325.2 million were spent on the servicing and repayment of T-bills&bonds. The rest of the funds were allocated to meet the government’s other FX commitments. At the same time, the government received USD 473.7 million in FX inflows from the placement of domestic government debt securities.
Furthermore, an equivalent of USD 508.2 million was paid to the IMF.
- second, the revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations).
Last month, the value of these instruments decreased by USD 250.3 million (in the equivalent).
For the most part of the month, the FX market was virtually balanced. However, on some days, excessive supply of foreign currency was observed in the market, and the NBU purchased USD 50.5 million to replenish reserves.
International reserves now cover 4.3 months of future imports, sufficient for Ukraine to meet its commitments, and for the government and the NBU to make their current transactions. Data on international reserves and FX liquidity are compiled and published on a monthly basis:
- for preliminary data, no later than on the seventh day after the reporting month ends
- for revised data, no later than on the 21st day after the reporting month ends.
Revised data are available here.