Ukraine's international reserves rose 18% in March - NBU

MOSCOW. April 5 (Interfax) - Ukraine's international reserves grew $6.7 billion or 18% to $43.763 billion in March, Ukrainian media reported, quoting a National Bank of Ukraine statement.

"Such trends were driven by significant inflows (over $9 billion) from international partners, which exceeded the NBU's net FX sales and Ukraine's FX debt repayments," the regulator said.

A total of $9.32 billion was credited to the government's FX accounts while $363.5 million was allocated for debt servicing and repayment.

In addition, Ukraine paid $728.5 million to the International Monetary Fund.

The NBU said other factors affecting reserves included transactions in the Ukrainian currency market: net FX sales were $1.79 billion in March, up 18.5% from February. The NBU sold $1.81 billion on the currency market and bought $25.9 million.

Revaluation of financial instruments added $266.3 million to the reserves.

"International reserves are now covering 5.8 months of future imports," the NBU said.

The NBU in January lowered its forecast for international reserves at the end of 2024 to $40.4 billion from $44.7 billion.