Thursday, July 7 2016 13:43 EEST
Ukraine’s foreign exchange reserves have been growing for 3rd month
Ukraine, NBU, Business, finances, politics, monetary reserves, interbank, increase, growth, calculations, obligations

According to NBU, Ukraine's foreign exchange reserves have grown by $ 452 mln for the last three months.

As of July 1, 2016, international monetary reserves of Ukraine were $13. 988 bln, the NBU’s staff says.

'The sum of the foreign exchange reserves have been growing for the third month in a row. Last month, for example, it increased by 3.3%. The reserves increased by 36.3% during the last year,' the department claimed.

This growth in June can be explained by the purchase of foreign currency by the National Bank in order to mitigate the painful fluctuations in the interbank currency market and to resupply domestic stocks. During the last month NBU has bought $ 429.6 mln of currency. Furthermore, the National Bank didn’t organize any auction to sell foreign currency in June.

The main Ukrainian bank explains the increase in the reserves with the fact that $70 mln has been sent to governmental account. $50 mln of them came due to the governmental bonds that had been placed earlier in American dollars.

NBU noted that the increase in the level of reserves still happened in spite of the payment of the debt by the government which was $171.2 mln. At the same time, $ 164.2 mln were sent to servicing of the state’s securities.

'According to monthly calculations, the amount of Ukrainian international reserves can cover imports of almost 4 months. The reserves will be enough to fulfill the obligations and to make operations of the government and the National Bank of Ukraine,' the NBU’s press center writes.

As reported earlier by, Ukraine to become most energy-efficient state in Europe - Groysman. 

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