NBU cuts share of non-dollar currency assets in reserves in 2012

The National Bank of Ukraine (NBU) in 2012 cut the share of non-dollar foreign currency assets in the structure of its reserves.

According to a consolidated financial report of the central bank for 2012, the share of the U.S. dollar grew by 22.6 percentage notches, to 66.4% in the structure of funds and deposits in foreign currency, while the share of euros fell by 3.7 percentage notches, British pounds sterling by 1.4 percentage notches and other currencies by 17.5 percentage notches, to 8.9%.

According to the report, the sum of funds and deposits in foreign currency in the hryvnia equivalent as of December 31, 2012 came to UAH 54.622 billion, a fall of 43.1% year-over-year.

According to the central bank, the share of assets in the U.S. dollars in the structure of securities grew by 8.7 percentage notches, to 64.8%, assets in other currencies by 1.8 percentage notches, to 5.3%, while in euros they fell by 8.2 percentage notches, to 24.2% and in British pounds sterling – by 2.4 percentage notches, to 5.6%.

The total sum of securities of nonresidents fell by 13.3% in 2012, to UAH 129.386 billion in the hryvnia equivalent.

The NBU said that the total sum of deposits in gold expanded by 97.1% in 2012, to UAH 5.932 billion in the hryvnia equivalent as of late 2012.

The monetary articles of the consolidated report were reflected as of late 2012, taking into account the exchange rates of UAH 7.993/$1 and UAH 10.537172/EUR 1, while as of late 2011 – UAH 7.9898/$1 and UAH 10.298053/EUR 1. The gold rate as of December 31, 2012 was UAH 13,258.389 per troy ounce (oz t), and as of December 31, 2011 it was UAH 12,284.318 per oz t.

The central bank also said that international reserves in 2012 narrowed by almost 23%, to $24.5 billion due to large payments on foreign liabilities, interventions to support the hryvnia stability and the absence of financing by the International Monetary Fund (IMF).