As of 1 March 2017, Ukraine’s international reserves amounted to the equivalent of USD 15,459.7 million, according to preliminary data.
Overall, since the beginning of the year, the amount of international reserves has undergone practically no changes thanks to the fact that in February the NBU was able to compensate FX expenses incurred in January with the view to smoothing excessive exchange rate fluctuations.
The international reserves in February were replenished on the interbank currency market through carrying out both currency auctions and interventions with request for best quotation. Owing to gradual increase in FX revenues from export operations and more favorable global price environment for Ukraine’s export items in February there was an excess supply of foreign currency on the interbank FX market. The NBU’s net FX purchases amounted to USD 80.9 million in the reporting month. In particular:
- purchased USD 133.6 million during the month. In particular, some USD 100.6 million was purchased through FX auctions and USD 33 million was purchased through interventions with request for best quotation;
- sold USD 52.7 million during the month. In particular, the regulator sold USD 42.7 million through FX auctions and USD 10 million was sold through interventions with request for best quotation.
At this, in February international reserves were used on carrying out payments under public debt:
- some USD 62.4 million was used for repayments and servicing of public and publicly guaranteed debt denominated in foreign currency (except payments due to the IMF), including USD 43.4 million in payments and servicing of domestic sovereign bonds denominated in foreign currency;
- some USD 66.5 million were used on payments of the Ukrainian government and the NBU due to the IMF.
Currently, the amount of Ukraine’s international reserves is sufficient to cover 3.3 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 promulgated on a monthly basis:
- not later than on the seventh day following the reporting month – preliminary data;
- not later than on the twenty-first day following the reporting month – revised data.