17:42 05.10.2018

Ukraine's intl reserves 3.5% down in Sept, lower than three-month barrier – NBU

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Ukraine's intl reserves 3.5% down in Sept, lower than three-month barrier – NBU

The international reserves of Ukraine in September 2018 decreased by 3.5% and as of October 1 amounted to $16.638 billion, the corresponding preliminary data have been posted on the website of the National Bank of Ukraine (NBU).

According to the central bank, the available reserves cover 2.8 months of the future imports. At the same time, the NBU said the specified amount is sufficient to fulfill the obligations of Ukraine and current operations of the government and the NBU.

The level of reserves was affected by payments for servicing and repaying state and state-guaranteed debt in foreign currency in the amount of $711.2 million (in equivalent). In particular, the costs for servicing eurobonds amounted to $562.3 million, government domestic loan bonds some $103.2 million.

In addition, in September the NBU sold $74.2 million in the interbank foreign exchange market to smooth out excessive fluctuations, including $34.1 million through interventions at the best price and $40.1 million through an auction.

Reserves were replenished by the funds from the placement of government domestic loan bonds for $48.6 million (in equivalent), buying $127.1 million in the interbank foreign exchange market through interventions to choose the best price, as well as revaluation of financial instruments in the amount of $13.5 million.

As reported, the National Bank of Ukraine in mid-July this year downgraded the forecast of international reserves at the end of 2018 to $20.7 billion from $21.6 billion.

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