The NBU is analyzing what risks exist for managing gold and foreign exchange reserves
Kyiv • UNN
The NBU reported that gold and foreign exchange reserves are in foreign banks and instruments. The National Bank monitors events in the markets and analyzes the risks for reserve management.
Ukraine's gold and foreign exchange reserves are in first-class foreign banks and reliable financial instruments. The National Bank analyzes the risks to managing gold and foreign exchange reserves. This was announced by the Deputy Head of the NBU Yuriy Geletiy during a press briefing, and added that the reserve management process should first of all be devoid of emotions, UNN reports.
Details
Geletiy commented on whether the decline in the dollar against the euro currently has any significant impact on Ukraine's gold and foreign exchange reserves and whether the National Bank plans to somehow change the structure of these reserves.
Our gold and foreign exchange reserves are in first-class foreign banks and reliable financial instruments. What are the main criteria we are guided by when managing gold and foreign exchange reserves? This is certainly a matter of safety, liquidity, and profitability. This allows us to effectively implement the function defined by law for the National Bank to manage reserves
He noted that the NBU is actively monitoring events in international financial markets, assessing and analyzing the current situation, and analyzing the risks to managing gold and foreign exchange reserves.
Analyzing the structure of assets, certainly the lion's share is in US dollars, but the reserve management process should first of all be devoid of emotions, we must exclude any situational factors in the management process. We analyze the situation on an ongoing basis, we manage reserves on an ongoing basis, and if necessary, we are ready to adjust their structure
The Governor of the National Bank of Ukraine Andriy Pyshnyy added that the National Bank has clear principles according to which it manages reserves.
"(NBU - ed.) constantly monitors events that may affect it in one way or another. The structure of reserves and their change is rather a technical exercise. If we see the need to do this, we will do it," Pyshnyy said.
Context
Official dollar and euro exchange rates have started to decline.
Addition
Prime Minister of Ukraine Denys Shmyhal reported on March 4 that there are more than 126 billion hryvnias in the single treasury account of Ukraine, and gold and foreign exchange reserves amount to $40.3 billion. Budget execution for January-February exceeded the plan by more than 2 billion hryvnias.
