International reserves of Ukraine declined again

Международные резервы Украины вновь сократились

International reserves of Ukraine decreased by 1.1%

The reduction in reserves due to payments on the national debt, explained in the national Bank.

In June 2018, the international reserves of Ukraine decreased by 1.1% and as of 1 July was $17,978 billion On Thursday, 5 July, the press service of the NBU.

As explained in the national Bank, the reduction in reserves due to payments on the national debt. Including $562,4 million was directed on servicing and repayment of public debt in foreign currency, of which $is 552.5 million – denominated in foreign currency bonds of domestic government loan (government bonds). Another $162 million (equivalent) the government and the NBU have listed the International monetary Fund.

The main source of reserves are the proceeds from the placement denominated in foreign currency government bonds, in the amount of $539,4 million

“The volume of international reserves covering 3.2 months of future imports is sufficient to meet the liabilities and current operations of the government and the National Bank”, – assured the regulator.

The NBU also said that the purchase of foreign currency on the interbank market ceased to be the main source of replenishment of reserves.

The report also stated that the national Bank in June even resumed the sale of foreign currency on the interbank market, for the first time since January, to smooth excessive exchange rate fluctuations.

As reported in the previous month, the international reserves of Ukraine decreased by 1.6% and as of 1 June totaled $ 18.1 billion dollars.

We will remind, in April the international reserves of Ukraine grew by 1.3% and amounted to 18,421 billion.

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