Ukraine’s international reserves reach $43.76B as of Apr 1

The relevant statement was made by the National Bank of Ukraine (NBU), an Ukrinform correspondent reports.

“As of April 1, 2024, according to the preliminary data, Ukraine’s international reserves reached $43,762.7 million. In March 2024, they increased by 18%,” the report states.

According to the NBU, such dynamics was driven by significant receipts (more than $9 billion) from international partners, which exceeded the National Bank’s net sale of foreign currency and the country’s debt repayments in foreign currency.

In March 2024, the dynamics of Ukraine’s international reserves was determined by a number of factors.

Firstly, inflows into the Government’s accounts, as well as public debt servicing and repayment. In March 2024, the NBU foreign currency accounts of the Government of Ukraine received $9,316.1 million. A total of $363.5 million was transferred to service and repay the foreign exchange public debt. Additionally, Ukraine paid $728.5 million to the International Monetary Fund (IMF).

Secondly, the NBU’s transactions on the foreign exchange market of Ukraine. In March 2024, the NBU sold $1,813.6 million on the foreign exchange market and bought $25.9 million to replenish reserves. Therefore, the net sale of foreign currency by the NBU came to $1,787.7 million.

Thirdly, the revaluation of financial instruments due to changes in the market value and exchange rates. In March 2024, their cost increased by $266.3 million.

A reminder that, as of January 1, 2024, Ukraine’s international reserves reached $40.5 billion, having increased by 42% in 2023.