Ukraine sees 2.9% decline in international reserves in Aug

Ukraine saw a 2.9% decline in its international reserves in August 2018, to US$17.232 billion as of September 1, 2018.

Since the beginning of the year, the reserves have decreased by 8.4%, the National Bank of Ukraine said on its website.

According to the NBU, the reduction in the reserves is due to payments on state debt in foreign currency in the amount of US$1.055 billion and interventions to sell foreign currency in the interbank forex market.

Read alsoWeek's balance: hryvnia continues its fall, while PM Groysman awaits IMF mission

The NBU's currency sales exceeded purchases by US$651.3 million.

Revenue from the placement by the government of foreign and domestic loan bonds in foreign currency was a major source of replenishment of the reserves. Such revenue in August 2018 totaled US$1.107 billion and EUR 69.1 million.

In addition, the reserves also shrank due to the revaluation of financial instruments in the amount of US$19.9 million.

The NBU said that international reserves as of September 1 covered 2.9 months' worth of imports.

As UNIAN reported earlier, Ukraine's international reserves in 2017 increased by 21%, to US$18.808 billion.