International Reserves at USD 42.3 Billion in August
As of 1 September 2024, Ukraine’s international reserves amounted to USD 42,330.5 million, according to preliminary data.
The international reserves grew by 13.7% in August.
Such dynamics were driven by large inflows from international partners, which exceeded the NBU’s net FX sales and Ukraine’s FX debt repayments.
Overall, international reserves dynamics throughout August 2024 were driven by a number of factors.
First, inflows to the government’s accounts and the servicing and repayment of public debt
A total of USD 8,465.0 million came into the government"s FX accounts with the NBU.
This amount included:
USD 4,552.9 million from the European Union under the Ukraine Facility
USD 3,899.0 million from the World Bank.
A total of USD 724.1 million was spent on servicing and repaying the FX public debt.
This included:
USD 266.0 million to service and repay the debt to the World Bank
USD 239.9 million to make payments related to performing transactions (external government debt securities)
USD 130.1 million to make payments on government derivatives
USD 88.1 million to meet the country’s liabilities to other international creditors.
In addition, Ukraine repaid USD 392.4 million to the International Monetary Fund.
Second, the NBU’s transactions in the Ukrainian FX market
The NBU sold USD 2,695.8 million on the FX market and bought USD 0.3 million to replenish international reserves, according to balance sheet data.
The NBU thus made USD 2,695.5 million in net FX sales in August, down by 18.4% from July.
Third, the revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations)
In August, financial instruments increased in value by USD 443.0 million due to revaluation.
International reserves are now covering 5.4 months of future imports
The 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:
The data on Ukraine’s international reserves, public debt management, and the revaluation of financial instruments are presented in the U.S.
dollar equivalent.
