NBU reported significant increase in Ukraine’s international reserves

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In June, they exceeded $ 3 billion.

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NBU registered a significant increase in international reserves. Photo: knigikratko.ru

As of July 1, 2020, Ukraine’s international reserves, according to preliminary data, exceeded $ 28.5 billion (equivalent). Last month, they grew by 12.4% – more than $ 3 billion. According to the press service of the National Bank of Ukraine, the last time they were at that level was in the fall of 2012.

The NBU explained the significant increase in reserves from the receipt of the first tranche under the new program with the International Monetary Fund and related financing in the past month, as well as the increasing purchase of foreign currency by the National Bank in the inter-bank foreign exchange market.

According to the NBU, the dynamics of reserves during the month were determined by such factors:

  1. Receipt of international financing and government debt management functions;
  2. Operation of the National Bank in the interbank foreign exchange market;
  3. Revaluation of financial instruments (due to changes in market value and exchange rates).

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Earlier, we wrote that from January 1 to February 1, 2020, Ukraine’s international reserves rose 3.9%, reaching $ 26.2 billion.

Read: The structure of Ukraine’s international reserves: in which currencies does the National Bank deposit money

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