International Reserves at USD 37.9 Billion in June

Ukraine had USD 37,894.2 million in international reserves as of 1 July 2024, preliminary data show.
 In June, international reserves declined by 2.9%.
Such dynamics were driven by the NBU’s FX interventions to compensate for the structural deficit of foreign currency and smooth out exchange rate fluctuations, as well as Ukraine’s FX debt repayments.
These operations were partially offset by funding from international partners and inflows from the placement of FX domestic government debt securities.
Overall, international reserve dynamics throughout June 2024 were driven by a number of factors.
First, the NBU’s transactions in the Ukrainian FX market
The NBU sold USD 2,995.5 million on the FX market and bought USD 0.9 million to replenish international reserves, according to balance sheet data.
The NBU thus made USD 2,994.6 million in net FX sales in June, down by 2.7% from May.
Second, inflows to the government’s accounts and the servicing and repayment of public debt
A total of USD 2,431.7 million came into the government"s FX accounts with the NBU.
This amount included:
USD 2,021.4 million from the European Union under the Ukraine Facility USD 407.3 million from the issuing of FX domestic government debt securities USD 3.0 million from the World Bank. A total of USD 444.5 million was spent on servicing and repaying the FX public debt.
This included:
USD 315.7 million to service and redeem FX domestic government debt securities USD 73.6 million to service and repay debt to the World Bank USD 55.2 million to meet the country’s liabilities to other international creditors. In addition, Ukraine repaid USD 247.6 million to the International Monetary Fund.
Third, the revaluation of financial instruments due to changes in their market value and exchange rate fluctuations
In June, financial instruments increased in value by USD 111.9 million due to revaluation.
International reserves are now covering 4.9 months of future imports
Data on international reserves and FX liquidity are compiled and released on a monthly basis:
for preliminary data, no later than on the 7th day after the reporting month ends for revised data, no later than on the 21st day after the reporting month ends. Revised data are available here.
For reference Data on Ukraine’s international reserves, public debt management, and the revaluation of financial instruments are presented in the U.S.
dollar equivalent.