Preliminary data showed that as of 1 November 2021, Ukraine's international reserves stood at USD 29,654.2 million. In October, international reserves increased by 3.3% due to FX proceeds to the government and the NBU’s FX purchases in the interbank FX market.
Overall, in October, international reserves were affected by the following factors:
- first, transactions related to public debt management.
FX inflows to the government amounted to USD 1,144.9 million, of which EUR 588.7 million was provided by the European Commission, and USD 431.9 million came from the offering of domestic government debt securities.
At the same time, the government spent USD 911.7 million on servicing and repayment of FX public debt, including USD 685.0 million in repayments on domestic government debt securities.
Furthermore, in October, the NBU repaid an equivalent of USD 86.5 million to the IMF
- second, the NBU’s FX interbank transactions.
FX supply in the interbank FX market outweighed demand for most of October, allowing the NBU to buy USD 752.2 million to replenish reserves. At the same time, the NBU sold USD 49.6 million during the month to smooth out excessive exchange rate fluctuations.
Overall in October, the NBU made net FX purchases of USD 702.6 million in the interbank FX market
- 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 98.8 million.
International reserves now cover 3.9 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.
Data on the volume of Ukraine’s international reserves, the amount of funds that goes towards the servicing and repayment of FX public debt, as well as changes in the value of financial instruments, are presented in U.S. dollars as per the official exchange rate set by the NBU on 1 November 2021.