Ukraine’s foreign exchange reserves to cut to $21B by year end – NBU

Ukraine’s foreign exchange reserves are expected to decrease to $21 billion by the end of 2022.

The relevant statement was made by National Bank of Ukraine (NBU) Deputy Governor Sergiy Nikolaychuk at a briefing, an Ukrinform correspondent reports.

“We expect that the [foreign exchange] reserves will slightly decrease by the end of the year, approximately to $21 billion. They will also fluctuate at this level next year,” Nikolaychuk told.

In his words, it will be possible to maintain the level of foreign exchange reserves through the funds received from international partners. In addition, a positive factor will be a gradual recovery in export logistics.

A reminder that, as of July 1, 2022, Ukraine’s foreign exchange reserves reached $22.8 billion, having reduced by 9% over the past month.

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