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For the first time in 11 years: Ukraine's international reserves rose to a record high

07 Apr, 2023
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For the first time in 11 years: Ukraine's international reserves rose to a record high

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As of April 1, 2023, Ukraine's international reserves reached a record level over the past 11 years - $31.88 billion.

"Reserves rose by 10% in March on the back of lower net foreign exchange sales by the National Bank and modest foreign currency debt repayments," the NBU said.

According to the regulator, in March, the government's foreign currency accounts with the National Bank received $5.11 billion.

The Government of Ukraine paid $486.8 million for servicing and repaying the state debt in foreign currency. In addition, Ukraine paid $638.6 million to the International Monetary Fund.

In March, in accordance with the balance sheet data, the National Bank sold $1.67 billion on the foreign exchange market and bought back $5.2 million for reserves.

Last month, the net sale of foreign currency by the NBU decreased by $783.1 million compared to February 2023. USA - up to 1,668.9 million dollars.

International reserves of Ukraine in the conditions of war

During 2022, Ukraine's international reserves decreased by 7.9% due to foreign exchange interventions to sell foreign currency to maintain the hryvnia exchange rate.

Ukraine's international reserves increased by 5% in January 2023 and, as of February 1, amounted to $29.9 billion.


The Odessa Journal

The Odessa Journal

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