Ukraine foreign reserves decrease by 0.5% m/m in April to $20.5bn

Ukraine foreign reserves decrease by 0.5% m/m in April to $20.5bn
Ukraine's international reserves decreased by 0.5% month-on-month to $20.5bn in April following a 2.1% m/m growth in March
By bne IntelliNews May 8, 2019

Ukraine's international reserves decreased by 0.5% month-on-month to $20.5bn in April following a 2.1% m/m growth in March, the National Bank of Ukraine (NBU).

The result was attributed to servicing and repaying FX public and publicly guaranteed debt in in the amount of $881.7mn, including $710.3mn for servicing and repaying FX government domestic loan bonds and $78mn for servicing Eurobonds.

At the same time, Kyiv obtained revenues from the placement of FX government domestic loan bonds for $416.6mn and €2.6mn in April. In addition, the NBU's net purchase of currency in the interbank foreign exchange market ensured replenishment of reserves by $299.9mn.

The country's international reserves were also positively influenced by the increase in the value of financial instruments in the amount of $54mn.

As of early May, international reserves covered 3.4 months of Ukraine’s imports and "were sufficient for Ukraine to meet its obligations and for the government and the NBU to conduct their current transactions", the regulator added.

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