Ukraine's international reserves fell by 8.1% in September to $38.9bn, the National Bank of Ukraine (NBU) reported on October 7. (chart)
The decline resulted from the central bank's currency interventions aimed at addressing the structural currency deficit and stabilising exchange rate fluctuations.
Additionally, significant debt payments in foreign currency further drained reserves, despite some offset from government foreign currency bonds and one of the lowest volumes of international aid received this year, after a large influx in August.
Key factors affecting reserve dynamics in September include: