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International Reserves at USD 27.8 Billion in May

International Reserves at USD 27.8 Billion in May

Ukraine had an equivalent of USD 27,839.9 million in international reserves as of 1 June 2021, according to preliminary data. In May, international reserves declined by 0.6% due to repayments on external and domestic public commitments. These expenses were partially offset by FX proceeds received by the government.  

Overall, international reserves in May were affected by the following:

  • first, transactions related to public debt management. 

The government spent an equivalent of USD 650.6 million on the servicing and repayment of FX public debt. That includes the USD 529.3 million that went towards the servicing and repayment of domestic government debt securities. The rest of the funds went to meet the government’s other FX commitments. 

At the same time, the government received USD 417.9 million in FX inflows, including USD 354.3 million from the placement of domestic government debt securities.  

Furthermore, the government and the NBU in May repaid an equivalent of USD 64.3 million to the IMF.
second, revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations). These instruments gained an equivalent of USD 136.8 million in value last month.

The interbank FX market was balanced in May, meaning the NBU did not have to make FX interventions.

International reserves now cover 4.2 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.

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