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Intl FX reserves narrow to $28.7 bln in Sept due to payments on external loans – NBU Council head
KYIV. Oct 5 (Interfax-Ukraine) – After growing to $31.614 billion (in equivalent) in August, Ukraine’s international FX reserves decreased in September due to government payments on external loans and amounted to $28.7 billion, Head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn has said.
"At the same time, the NBU acquired $15 million during the week by conducting foreign exchange interventions to replenish international reserves, the volume of which fell to $28.7 billion in September due to significant government payments on external loans," he wrote on Facebook on Tuesday.
Danylyshyn said that in October government payments in foreign currency are mainly made on foreign currency government bonds, which may require activation of the market for domestic borrowing in foreign currency or the use of the balance of the International Monetary Fund (IMF) funds received as a result of the distribution of SDRs.
The head of the NBU Council added that in the context of the prevalence of demand for foreign currency over its supply on the part of bank clients, bank transactions with foreign exchange positions had a stabilizing effect on the dynamics of the hryvnia exchange rate, which contributed to the strengthening of the national currency by 0.2% last week.
As reported, at the beginning of this year, Ukraine’s international reserves amounted to $29.113 billion.
