The dynamics of international reserves in October were determined by a number of factors, and above all – the National Bank's operations on the Ukrainian foreign exchange market.
Ukraine's international reserves for October decreased by 6% and as of November 1, 2024 amounted to 36.6 billion US dollars.
This was reported by the National Bank of Ukraine.
“As of November 1, 2024, Ukraine's international reserves, according to preliminary data, amounted to 36.6 billion US dollars. In October, they decreased by 6.0%. Despite the decrease, the volume of international reserves is sufficient to maintain the stability of the foreign exchange market,” the report says.
The dynamics of international reserves in October were determined by a number of factors, primarily the National Bank's operations on the Ukrainian foreign exchange market.
The National Bank sold $3,429.9 million on the foreign exchange market and bought $2 million for reserves. Consequently, the NBU's net sale of foreign exchange in October was $3.43 million.
The second factor was the receipts in favor of the government and payments for servicing and repayment of the state debt. 1,991.4 million shares were received into the government's foreign exchange accounts with the National Bank. Of this amount:
- $1,111.2 million – from the International Monetary Fund;
- $569.1 million – from the placement of foreign currency government bonds;
- $289.5 million – from the government of Canada;
- $21.6 million – grant funds from the government of Serbia.
According to the NBU, in October, almost $2 billion was received in the government’s foreign currency accounts, including $1.11 billion from the IMF, $569.1 million from the placement of foreign currency government bonds, $289.5 million from the government of Canada, and $21.6 million in grant funds from the government of Serbia. .
The National Bank noted that $943.4 million was spent on servicing and repaying the government debt, of which:
- $710 million – on foreign currency government bonds;
- $186 million – servicing and repaying the debt to the World Bank;
- $21.6 million – servicing and repaying the debt to the EIB;
- $11.6 million – servicing the debt to the EU;
- $14.2 million – payments to other international creditors.
In addition, in October, Ukraine paid $87.9 million to the International Monetary Fund.
Also in October, due to revaluation, the value of financial instruments increased by 143.8 million dollars.
Recall that the situation on the currency market in November will remain relatively calm. The NBU's currency interventions will make excitement or panic impossible. But the current corridors of acceptable exchange rate fluctuations will shift slightly upward. The dollar exchange rate may get as close as possible to the mark of 42 UAH.
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