Ukraine's international reserves decreased by 7.9% to $39 billion: NBU explains by currency sale
Kyiv • UNN
Ukraine's international reserves decreased by 7.9% to $39 billion as of June 1, 2024 due to currency interventions by the National Bank of Ukraine to ensure exchange rate stability, payments on foreign currency debts and payments to the International Monetary Fund, which was partially offset by proceeds from the placement of government bonds in foreign currency and international partners.
Ukraine's international reserves decreased by 7.9% over the month to $39 billion at the beginning of June, reported in the NBU on Thursday, writes UNN.
Details
"As of June 1, 2024, Ukraine's international reserves, according to preliminary data, amounted to $ 39033.8 million. In May, they decreased by 7.9%," the NBU said.
The regulator explained This dynamics by "currency interventions of the NBU to ensure exchange rate stability and debt payments of the country in foreign currency", which, according to the report, were still "partially compensated" by revenues from the placement of foreign currency government bonds and international partners.
Net sales of NBU currency in May amounted to $3.76 billion. Compared to April. "This is due to an increase in demand in the foreign exchange market, primarily against the background of increased government spending due to the establishment of a rhythmic flow of foreign aid in March-April," the National Bank explained.
According to the NBU, $412.3 million was paid for servicing and repaying public debt in foreign currency. In addition, Ukraine paid $240.8 million to the International Monetary Fund. At the same time, the government's foreign currency accounts with the National Bank received $143.1 million.
