The NBU explained the reasons for the dynamics of the reduction in international reserves.
International reserves of Ukraine as of 1 May 2024, according to preliminary data, amounted to $42.4 billion. In April they decreased by 3.1%. This dynamics is due to the NBU's foreign exchange interventions to ensure exchange rate stability and the country's debt payments in foreign currency, partially offset by receipts from international partners.
This was reported by the NBU press service.
In general, in April 2024 year, the dynamics of international reserves was determined by a number of factors.
Operations of the National Bank on the foreign exchange market of Ukraine
The National Bank, in accordance with balance sheet data, sold $2,295.4 million on the foreign exchange market. USA and bought 30.9 million dollars into reserves. USA.
“Consequently, the net sale of foreign currency by the NBU in April amounted to $2,264.5 million, an increase compared to March. This is due to increased demand in the foreign exchange market, primarily against the backdrop of increased government spending due to the establishment of a rhythmic flow of external assistance in the second half March,” the message says.
Receipts in favor of the government and payments for servicing and repaying public debt
The government's foreign currency accounts with the National Bank received 1,649 $.7 million USA. Of this amount:
- $1,603.1 million. USA – the second tranche from the European Union as part of transition financing under the Ukraine Facility program;
- $46.6 million USA – from the placement of foreign currency domestic government loan bonds (OVDP).
$884.5 million was paid for servicing and repaying government debt in foreign currency. USA, of which:
- 673.7 million dollars. USA – servicing and repaying debt to the European Union;
- $162.3 million. USA – servicing and repaying debt to the World Bank;
- $6.5 million. USA – servicing foreign currency government bonds;
- $42.0 million. USA – payment of debt to other international creditors.
In addition, Ukraine paid the International Monetary Fund $92.6 million. USA.
Revaluation of financial instruments (due to changes in market value and exchange rates)
In April, due to revaluation, the value of financial instruments increased by 224.3 million .dol. USA.
The current volume of international reserves provides financing for 5.5 months of future imports
Recall that the NBU told what will happen to prices in the coming months – an updated inflation forecast.< /strong>