Preliminary data suggest that as of 1 July 2017, Ukraine's international reserves amounted to the equivalent of USD 17,970 million, after they increased by 16% in H1 2017. In particular, international reserves grew 2% in June.
Encouraged by tailwinds on global markets, the NBU was able to continue FX purchases for the replenishment of reserves without impeding the hryvnia strengthening.
In particular, during last month the NBU purchased a total of USD 301.6 million (including USD 101.0 million purchased through interventions in the form of the best exchange rate offer). At the same time, the regulator’s sales of foreign exchange through interventions totaled USD 1.4 million. Last month, the regulator did not hold any auctions on FX sales, whereas foreign exchange was sold through single-rate interventions to support the interbank currency market operations that were temporarily disrupted due to recent cyber attacks.
In June, the NBU’s net FX purchases amounted to USD 300.2 million.
At the same time, funds from international reserves were used for repayments and servicing of public and publicly guaranteed debt denominated in foreign exchange to the tune of USD 5.8 million.
As of 1 July 2017, the amount of Ukraine’s international reserves is sufficient to cover 3.7 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 disseminated on a monthly basis:
- not later than on the seventh day of the month following the reporting one – preliminary data;
- not later than on the twenty first day of the month following the reporting one – revised data.
Revised data are available at link.