As of September 1, 2022, Ukraine's international reserves, according to preliminary data, amounted to USD 25,436.0 million. In August, they increased by 13.6%, thanks to the arrival of a significant amount of international aid against the background of moderate debt payments of the country in foreign currency and more minor interventions of the National Bank on the sale of foreign currency. In general, during August, the dynamics of international reserves were determined by the following factors:
Firstly, receiving assistance from foreign partners and public debt management operations.
Foreign currency inflows to the accounts of the Government of Ukraine at the National Bank in August amounted to USD 4,788.4 million, in particular:
- USD 3,030.9 million came from the United States of America (through the mechanism of the World Bank);
- USD 1,015.6 million - from the European Union;
- USD 349.3 million – from the Government of Canada;
- USD 205.6 million – from the Government of Italy;
- USD 99.6 million - from placement of domestic government bonds;
- USD 87.4 million - from other creditors.
The total volume of government payments for servicing and repaying the state debt in foreign currency amounted to USD 171.9 million. Of them, USD 165.4 million. The USA is directed to servicing and repaying the debt to international creditors and USD 6.5 million - for OVDP service. In addition, Ukraine paid 221.1 million dollars to the International Monetary Fund;
Secondly, NBU operations on the interbank foreign exchange market.
The National Bank sold USD 1,641.4 million on the foreign exchange market. The USA and repurchased to reserves - USD 311.7 million. The balance of NBU interventions at the end of the month was negative and amounted to USD 1,329.7 million. The volume of net currency sales by the National Bank in August is slightly higher than in July but significantly lower than the balance of NBU interventions in April, May, and June. The sale of currency by the central bank decreased due to the adjustment of the official exchange rate of the UAH to the US dollar on July 21, 2022 (to the level of UAH 36.57 for USD 1);
Thirdly, revaluation of financial instruments (due to changes in market value and exchange rates). Last month, their value decreased by USD 16.4 million.
Detailed data can be found by the link.
