18:29 05.11.2018

Ukraine's intl reserves 0.6% up in Oct

2 min read
Ukraine's intl reserves 0.6% up in Oct

The international reserves of Ukraine in October 2018 increased by 0.6% and as of November 1 amounted to $16.737 billion, the corresponding preliminary data have been posted on the website of the National Bank of Ukraine (NBU).

However, the central bank said that the data as of the beginning of November did not take into account the recent placement of eurobonds by Ukraine.

"Thanks to the funds from this placement, as of November 5 Ukraine's international reserves rose to $18.069 billion, which corresponds to three months of future imports," the report said.

Regarding changes in reserves in October, the National Bank said their level was influenced, inter alia, by the currency interventions of the central bank. The NBU, in particular, replenished its reserves at the expense of net purchase of currency in the interbank foreign exchange market, which was possible due to the absence of devaluation pressure on the hryvnia exchange rate, as well as the availability of excess currency supply, including through the receipt of currency earnings from grain exports.

In general, the NBU bought out $268.5 million in the market in a month, including $126 million by choosing the best price from the matching feature and $142.4 million at a single exchange rate, and sold $70 million, all at a single rate. Thus, net purchase of currency in October amounted to $198.5 million.

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