International Reserves at USD 39.9 Billion in November
As of 1 December 2024, Ukraine had USD 39,924.7 million in international reserves, preliminary data show.
In November, the international reserves grew by 9.1%. Such dynamics were driven by large inflows from international partners on the one hand, and decreased net FX sales by the NBU on the other hand.
International reserve dynamics were generally 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 6,677.7 million came into the government"s FX accounts with the NBU.
This amount included:
USD 4,788.0 million from the World Bank
USD 1,350.0 million from the United States
USD 235.0 million from Japan
USD 191.9 million from the issuing of FX domestic government debt securities
USD 99.9 million from South Korea
USD 12.9 million from other partners.
A total of USD 433.8 million was spent on servicing and repaying the FX public debt.
This included:
USD 311.0 million to service and redeem FX domestic government debt securities
USD 44.7 million to service and repay the debt to the EIB
USD 29.5 million to service and repay debt to the EBRD
USD 21.2 million to service and repay the debt to the World Bank
USD 27.4 million to meet the country’s liabilities to other international creditors.
In addition, Ukraine repaid USD 263.8 million to the International Monetary Fund.
Second, the NBU’s transactions in the Ukrainian FX market
The NBU sold USD 2,712.0 million on the FX market and bought USD 4.4 million to replenish international reserves, according to balance sheet data.
The NBU thus made USD 2,707.6 million in net FX sales in November, this was 21% less than in October.
Third, the revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations)
In November, financial instruments increased in value by USD 71.9 million due to revaluation.
International reserves are now covering 5.0 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.
