8 Nov 2022 12:12

Ukraine's int'l reserves rose 5.5% in Oct, fell 18.4% in 10M to $25.244 bln

MOSCOW. Nov 8 (Interfax) - Ukraine's international reserves grew 5.5% during October 2022 to $22.244 billion, Ukrainian media outlets quoted the National Bank of Ukraine as saying.

The reserves grew in October thanks to inflows from international partners and lower net foreign currency sales by the NBU.

The reserves fell 18.4% in January-October, from $30.941 billion at the start of the year.

Reserves in October were affected by public debt management operations. A total of $4.161 billion was credited to Ukrainian government and NBU accounts. This included $1.955 billion from the European Union, $1.283 billion from the International Monetary Fund, $498.8 million from the World Bank and $424.8 million from government bond placements.

The government paid a total of $684.1 million on debt servicing and repayments, including $38.1 million to repay debt to international creditors, $561.5 to service bonds and $84.5 million payments on a World Bank loan. Ukraine transferred $85.1 million to the IMF.

The NBU sold $2.095 billion on the currency market and bought $47.7 million for its reserves, resulting in net FX sales of $2.046 billion.

Revaluation of financial instruments also impacted reserves - these fell $33.2 million in value in October.

"International reserves now cover 3.2 months of future imports, which is sufficient for Ukraine to meet its commitments, and for the government and the NBU to make their current transactions," the NBU said.