The national Bank gave the reasons why foreign exchange reserves began to “lose weight”

The national Bank gave the reasons why foreign exchange reserves began to “lose weight”


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During the month the index fell by 1.6%.

By the end of may the international reserves of the national Bank decreased by 302 million dollars (1,6%) – up to 18 billion to 119.7 million dollars.

The NBU explained that the decline was because I had to give the state debt denominated in foreign currency.

In particular, the International monetary Fund in may, the government and the NBU paid 455,1 million dollars. Even 214,4 million dollars were directed to payments of the Cabinet for servicing and repayment of public debt in foreign currency (excluding payments to the IMF), of which 126.2 million dollars – the servicing and repayment of bonds internal state loan (government bonds) and 18.5 million dollars – maintenance of sovereign Eurobonds of Ukraine.

The regulator noted that the main source of replenishment of reserves in may was the purchase of national Bank currency on the interbank market. Due to the high commodity prices of Ukrainian exports (metals, ore and grains) in foreign markets, and increased supply of foreign currency from banks, which from the beginning of April, the NBU has expanded opportunities to conduct their own operations with foreign currency in the interbank market. In may the national Bank bought in the interbank market 181,2 million dollars.

Also last month in the reserves received 272,3 million and $ 64,6 million euros from the placement of government bonds denominated in foreign currency.

In addition, the volume of reserves was affected by the revaluation of financial instruments (change in market value of the hryvnia to foreign currencies) in the amount of 162,3 million dollars.

The Bank considered that the current level of international reserves covering 3.2 months of future imports is sufficient to meet the liabilities and current operations of the government and the NBU.

We will remind, in January 2018, the reserves amounted to 18 billion 580 million dollars, in February – 18 billion 410 million dollars, in March – 18 billion 191 million dollars, in April 18 billion 421 million dollars.

  • National Bank
  • foreign exchange reserves

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