Regular version of site
Skip to content
International Reserves Increased to USD 28.95 Billion in July

International Reserves Increased to USD 28.95 Billion in July

As of 1 August 2021, Ukraine’s international reserves stood at an equivalent of USD 28,951.1 million, according to preliminary data. In July, international reserves increased by 2.1%, primarily due to the government’s placement of Eurobonds and purchases by the National Bank of Ukraine (NBU) of foreign currency on the interbank FX market.

Overall, international reserves in July were affected by the following factors:

  • first, transactions related to public debt management.

FX inflows to the government amounted to USD 665.8 million (in the equivalent), of which USD 525.8 million (in the equivalent) came from a placement of Eurobonds, and USD 140 million (in the equivalent) from domestic government debt securities.

At the same time, the government spent USD 416.9 million (in the equivalent) on servicing and repayment of public debt denominated in foreign currency, including USD 368.9 million in repayments on domestic government debt securities, while the rest of the funds went to meet the government’s other FX commitments. 

During the first weeks of July, the interbank FX market was mostly balanced. On some days, however, mainly in the second half of the month, market supply exceeded demand, in part due to a pick-up in FX sales by a number of private and state-owned companies. This enabled the NBU to add USD 188.0 million to international reserves. The regulator did not sell foreign currency. 

  • third, the revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations).

Last month, the value of these instruments increased by USD 156.5 million (in the equivalent).

International reserves now cover 4.1 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.

Subscribe for notifications

Subscribe to news alerts