The reserves reached a five-year maximum and exceeded the October forecast of the national Bank.
The national Bank recorded the volume of international reserves at the beginning of January 2019. During the year the reserves grew by 10.6% to 20.8 billion dollars. It is reported by the NBU, informs Rus.Media.
The reserves reached a five-year maximum and exceeded the October forecast of the national Bank. The NBU is expected that the reserves will amount to 19.2 billion dollars. Such results became possible thanks to external financing and the purchase of excess currency on the interbank market.
To offer currency impact favourable conditions for the export of goods, increase in value of financial instruments, the growing interest of investors to the markets, and net sales of foreign currency by the population. Through the purchase of foreign currency national Bank has attracted $ 1.4 billion.
Financial support from the IMF, EU and world Bank generated a $ 2.4 billion. In foreign and domestic markets managed to raise 6.1 billion dollars. Profit from the increase in the value of financial instruments amounted to $ 230 million.
However, the money reserves were spent on servicing and repayment of public debt. Expenditure amounted to 8.1 billion dollars.
Only in December 2018, the international reserves increased by 3.1 million dollars. From the IMF, Ukraine has received $ 1.4 million under the stand-by program. The world Bank and the EU transferred $ 1 million. The government has also been 540,8 million dollars from the sale of government bonds, and the purchase of foreign currency on the interbank market ensured the replenishment of the reserve to 338,5 million dollars.
At the moment the volume of international reserves cover 3.5 months of imports is sufficient to meet the obligations and operations of the NBU.