In June, Ukraine's international reserves decreased by an estimated 2.9%, or $1.14 billion, according to preliminary assessments by the National Bank of Ukraine (NBU), reaching $37.8942 billion.
"This dynamic was driven by NBU's currency interventions to cover the structural deficit in the currency market and smooth exchange rate fluctuations, as well as the country's foreign currency debt payments," as explained on the NBU's website.
It was noted that these operations were partially offset by inflows from international partners and proceeds from the issuance of domestic government currency bonds (OVDP).
The NBU specified that in June, net currency sales amounted to $2.99 billion, which is 2.7% less than the previous month. The NBU sold $2.9955 billion on the currency market and bought $0.9 million for reserves.
Additionally, the current volume of reserves was influenced by government receipts and payments for servicing and repaying public debt. It was mentioned that $2.43 billion was transferred to the government's foreign currency accounts in June, while $444.5 million was allocated for debt servicing and repayment.
Ukraine also made a payment of $247.6 million to the International Monetary Fund (IMF).
The reassessment of the value of financial instruments positively contributed $111.9 million to the reserve volume.
"The current level of international reserves covers financing for 4.9 months of future imports," noted the regulator.
Earlier reports indicated that Ukraine's international reserves decreased by 7.9%, or $3.4 billion, in May, totaling $39.0338 billion.
