Ukraine’s central bank reserves inch closer to reach historic record
The National Bank of Ukraine reported on Thursday that its international reserves in April increased by 13 percent to USD 35.94 billion, the highest figure since August 2011.
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The historical maximum of the central bank reserves stands at USD 38.35 billion, back in May 2011.
According to the NBU, the significant increase in reserves last month was due to international assistance, of which USD 2.71 billion was provided by the International Monetary Fund, USD 1.65 billion by the European Union, and USD 1.25 billion by the US.
In addition, Ukraine raised another USD 243 million through domestic government bonds.
Payments on public debt were much lower, at USD 446 million, per the statement, with another USD 107 million repaid to the International Monetary Fund.
The increase in reserves was also facilitated by the NBU's reduction in net foreign exchange sales on the domestic market. In April, they decreased by USD 299 million, to USD 1.37 billion compared to the month before.
In addition, revaluation of financial instruments due to changes in market values and exchange rates increased their value by almost USD 129 million, the NBU reported.
The current volume of Ukraine’s central bank international reserves covers 4.7 months of future imports.
