Ukraine’s international reserves in October increased

Международные резервы Украины в октябре увеличились

As of November 1, Ukraine’s international reserves stood at $16.7 billion (in equivalent), the press service of the National Bank of Ukraine.

According to the NBU, the reserves for the month rose 0.6%.

“Due to the absence of devaluation pressure on the hryvnia exchange rate and excess supply of foreign currency, including due to the receipt of currency earnings from export crops, the national Bank was even able to replenish their international reserves by purchasing foreign currency on the interbank foreign exchange market. In October, the net purchase of currency by the National Bank amounted to $198,5 million For the month, the national Bank bought $268,5 million (including $126 million for the best prices and $142.4 million at a uniform rate) and sold $70 million (at a uniform rate),” – said in the message.

The growth of reserves contributed to the operations of the government. “On the one hand payments on servicing and repayment of public and publicly guaranteed debt in foreign currency in October was $853 million (equivalent). $777,8 million was spent on servicing and repayment of bonds internal state loan (government bonds). Thus, these costs were almost entirely offset with revenue from the placement of government bonds, which was $790,7 million (equivalent)”, – noted in the NBU.

As of 1 November, the volume of international reserves cover of 2.8 months of future imports is sufficient to meet the obligations and current operations of the government and the National Bank.

“The data at the beginning of November did not take into account the recent placement of government Eurobonds. With the funds from this placement, as of November 5, Ukraine’s international reserves rose to $18 billion,” – noted in the NBU.