Ukraine’s international reserves amount to $37.2B as of Aug 1

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

“As of August 1, 2024, according to the preliminary data, Ukraine’s international reserves came to $37,231.9 million. In July 2024, they reduced by 1.8%,” the report states.

According to the NBU, such dynamics was driven by the National Bank’s foreign exchange interventions to compensate for the structural deficit of foreign currency and smooth out exchange rate fluctuations, as well as by Ukraine’s foreign currency debt repayments.

In July 2024, the dynamics of Ukraine’s international reserves was determined by a number of factors, primarily the NBU’s transactions on the foreign exchange market of Ukraine.

Last month the NBU sold $3,306.8 million on the foreign exchange market and bought $1.8 million to replenish reserves. Therefore, the net sale of foreign currency by the NBU came to $3,305.0 million in July 2024.

Secondly, inflows into the Government’s accounts, as well as public debt servicing and repayment. In July 2024, the NBU foreign currency accounts of the Government of Ukraine received $2,482.7 million. A total of $185.0 million was transferred to service and repay the foreign exchange public debt.

Thirdly, the revaluation of financial instruments due to changes in the market value and exchange rates. In July 2024, their cost increased by $342.9 million.

A reminder that, as of July 1, 2024, Ukraine’s international reserves came to $37.894 billion, having decreased by 2.9% in June 2024.