Photo: depositphotos
As of August 1, 2024, Ukraine’s international reserves amounted to $37,231.9 million. In July, the reserves decreased by 1.8% due to the National Bank’s currency interventions and debt repayments. In July 2024, the National Bank of Ukraine conducted significant operations on the foreign exchange market, selling $3,306.8 million and buying back $1.8 million, resulting in a net sale of $3,305.0 million.
The government’s foreign currency accounts received $2,482.7 million: $2,197.0 million from the International Monetary Fund and $285.7 million from the issuance of foreign currency domestic government bonds (OVDPs). At the same time, $185.0 million was spent on servicing and repaying state debt, including payments to the World Bank and other international creditors.
Revaluation of financial instruments in July increased their value by $342.9 million. The current level of international reserves covers 4.8 months of future imports.
The decrease in Ukraine’s international reserves in July was driven by active currency operations and debt repayments. However, the revaluation of financial instruments partially offset these costs, ensuring a sufficient level of reserves for future imports.
Source: National Bank of Ukraine
