Ukraine began to lose foreign exchange reserves of the NBU
In January, international reserves of the national Bank of Ukraine pre – “lost” by 0.6% to 15 billion 445 million dollars.
“Due to temporary seasonal factors on the interbank foreign exchange market, as well as the necessity of making payments on public debt international reserves for the month decreased by 0.6%. The volume of international reserves of Ukraine covers 3.4 months of the future import and is sufficient to meet the liabilities and current operations of the government and the National Bank”, – said the NBU.
The controller calls the two sources of factors that caused a decrease in reserves.
“First, the change in the volume of international reserves was due to National Bank interventions on the interbank currency market. In January the national Bank remained in the market to smooth out excessive volatility in the interbank currency market”, – explained in the national Bank.
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In early 2017, “despite the favorable fundamental factors, have temporarily intensified the devaluation pressure on the hryvnia. Therefore, the NBU interventions on the interbank currency market of Ukraine sold amounting to 235.8 million US dollars, including 3 million US dollars for intervention in the form of a request is the best course to smooth excessive fluctuations of the hryvnia. The national Bank bought from the market 157,8 million dollars, including 11 million US dollars for intervention in the form of a request is the best course.”
Also from the reserves took the funds to pay off debt.
“Secondly, from the reserves to make payments of the government for servicing and repayment of public and publicly guaranteed debt in foreign currency was sent 138 million dollars. Of them 42.3 million U.S. dollars on servicing government securities government bonds”.
Recall, Ukraine for almost six months waiting for the decision of the International monetary Fund on granting another tranche of the loan, which also will be sent to the NBU reserves.
Note that in 2016 the international reserves of Ukraine grew by 17%.