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International Reserves Increase to USD 25.2 Billion in October

International Reserves Increase to USD 25.2 Billion in October

Preliminary data show that, as of 1 November 2022, Ukraine's international reserves stood at USD 25,244.2 million. In October the international reserves increased by 5.5% thanks to steady inflows of funding from international partners and the NBU’s decreased net FX sales.

Overall, international reserves dynamics in October were driven by:

first, transactions related to public debt management

Last month, FX inflows to the government’s accounts with the NBU amounted to USD 4,161.3 million. This included USD 1,954.7 million provided by the EU, USD 1,283.0 million by the International Monetary Fund, USD 498.8 million by the World Bank, and USD 424.8 million from offering FX domestic government debt securities.

The government spent a total of USD 684.1 million on servicing and repaying the FX public debt. In particular, USD 561.5 million was allocated to service and redeem FX domestic government debt securities, USD 84.5 million was used to repay the loan owed to the World Bank, and another USD 38.1 million was spent for repaying debt to other international creditors.

In addition, Ukraine repaid USD 85.1 million to the International Monetary Fund

second, the NBU’s FX interbank transactions

Last month, the NBU sold USD 2,094.6 million on the FX market and bought USD 47.7 million to replenish international reserves. As a result, the NBU was a net seller of USD 2,046.9 million in foreign currency in October

third, the revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations). These instruments declined in value by USD 33.2 million last month

International reserves are now covering 3.2 months of future imports, which is 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.

For reference

Data on Ukraine’s international reserves are presented in a U.S. dollar equivalent.

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