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Saturday, November 18, 2017

NBU estimates international reserves just under $10 billion

The National Bank of Ukraine said preliminary data places its amount of international reserves at $9.96 billion as of Dec. 1.

Because of the need to restrict $1.45 billion to pay off expenditures for natural gas that was imported between November and December of 2013, this did have an impact on reserve data for the past month.

The NBU said the government was able to pay off foreign currency exchange debts that had amounted to $897.3 million and included a payment installment to the International Monetary Fund.

The NBU also intervened in the foreign exchange market, selling $573.3 million. Much of the received currency went to the payment of the natural gas that had been imported. The bank purchased an additional $3.1 million in the foreign exchange market. The bank also reported that it had received $318.5 million from the European Commission.

Organizations in this story

International Monetary Fund 700 19th Street, N.W., Washington, D.C. - 20431

National Bank of Ukraine 9 Instytutska St., Kyiv 01601

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