The National Bank does not plan to change the structure of international reserves, in which the share of assets in US dollars amounted to 82.8% as of February 1. In addition, the regulator does not consider the risk of freezing reserves by the United States and continues to be guided by the current investment declaration. This was stated by the head of the NBU Andriy Pyshnyy during a monetary briefing, Interfak-Ukraine reports.
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“We do not have this issue on the agenda now. We are closely monitoring, regardless of the events that are currently taking place. This is always in the focus of the National Bank and our team for the relevant events on the international market, but to say that we are now somehow considering this issue in view of the events is not true,” answered the head of the NBU Andriy P.
He emphasized that the National Bank views the United States as a strategic partner.
“Currently, the National Bank is in the baseline scenario. And we are not considering this kind of development of events,” Velikolepny commented on the possibility of the US freezing Ukraine's international reserves.
He said that the issue of re-pegging from the dollar to the euro is complex and is being discussed with the market.
“The Oversight Council recently considered this issue and discussed it. I can't say that we are already at the end of this issue. We are considering different options and are approaching this issue in a comprehensive manner,” the head of the NBU noted.
His deputy Yuriy Gelety added that the oversight council considered the issue regarding the share of settlements in euros. According to him, for imports it is approaching 50%, for exports – more than 30%, on the cash market – about 22-23%.
“Further expansion of the euro's share may actualize this discussion. It will certainly be comprehensive and quite broad. We must especially take into account that this issue may become more relevant in the context of our European integration,” Geletiy noted.
As for reserves, according to him, the National Bank is currently guided by its investment declaration, which defines the main tactical and strategic principles for managing gold and foreign exchange reserves in relation to their profitability.
Let us recall
As of February 1, according to information on the National Bank's website, international reserves amounted to $43.01 billion in equivalent, including assets in dollars – $35.618 billion, in EUR – $4.287 billion, in GBP – $0.177 billion, JPY – $0.166 billion, in C9 – $0.4.
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