• 13/06/2024 17:35

International reserves rose by a record 18% in March

As of April 1, 2024, Ukraine’s international reserves, according to preliminary data, amounted to $43,762.7. In March they grew by 18%. This was reported by the press service of the National Bank.

International reserves grew by a record 18% in March

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“This dynamics is due to significant (over $9 billion) volumes of receipts from international partners, which exceeded the net sale of currency by the National Bank and the country’s debt payments in foreign currency,” the regulator said in a statement.

It is noted that during March 2024, the dynamics of international reserves was determined by a number of factors.

Receipts in favor of the government and payments for servicing and repaying the national debt

The government’s foreign currency accounts in the National Bank received $9,316.1 million. Of this amount:

    $4,901.0 million – from the EU the first tranche within the framework of transition financing under the Ukraine Facility instrument; $1,626.1 million – from the World Bank under guarantees from Japan and the UK; $1,471.5 million – from Canada; $880.7 million – from the IMF; $286.2 million – from the placement of foreign currency domestic government loan bonds (OVDP); $118.2 million – grant funds from Japan through the World Bank; $32.4 million – grant funds from Serbia.

$363.5 million was paid for servicing and repayment of public debt in foreign currency, of which:

    $275.4 million – servicing and repayment of foreign currency government bonds; $52.7 million – servicing and repaying debt to the World Bank; $35.4 million – payment of debt to other international creditors. In addition, Ukraine paid the International Monetary Fund $728.5 million.

NBU operations on the foreign exchange market of Ukraine

The National Bank, in accordance with balance sheet data, sold $1,813.6 million on the foreign exchange market and bought $25.9 million into reserves. Thus, the net sale of NBU currency in March amounted to $1,787.7 million.

Revaluation of financial instruments

In March, thanks to the revaluation, the cost of financial instruments increased by $266.3 million.

The NBU noted that the current volume of international reserves provides financing for 5.8 months of future imports.



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