Preliminary data from the National Bank of Ukraine (NBU) indicates that its international reserves rose to approximately $9.6 billion as of May 1, the bank said on Thursday.
Major factors that weighed on this total were principal debt and interest payments on external sovereign bonds and government securities, and to the International Monetary Fund. Total payments amounted to $737 million when interest is included.
The NBU also sold $240 million worth in foreign-exchange interventions, of which $140 million in targeted interventions were sold to Naftogaz of Ukraine NJSC, helping to boost international reserves. The bank also purchased $158 million in foreign-exchange funds.
The bank said the $161 million yielded after Chinese yuan were converted
into U.S. dollars in foreign-exchange transactions and a disbursement of approximately $280 million from the European Commission to the Ukrainian government
also contributed to the increase in international reserves.
The NBU said the amount of funding held by the international reserves will be enough to satisfy foreign-debt obligations that the government and the NBU currently hold and to sustain current operations.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme