UNIAN
Based on preliminary estimates, the foreign exchange reserves of the National Bank of Ukraine in March increased by 1.8 times, to $9.970 billion, according to data published on the Web site of the National Bank of Ukraine.
"The dynamics of reserves in March was primarily caused by receipt of the funds from the International Monetary Fund totaling $4,873 billion, including $2.633 billion for the government. Additionally, there was a increase in reserves in March resulting from the receipt of CAD 200 million," according to the NBU report.
Furthermore, the interventions of the NBU in the interbank foreign exchange market also had influence on the level of foreign currency reserves in March. The Regulator purchased $581.4 million and sold $372.5 million, including $281.3 million sold in targeted interventions to the state-owned enterprises Naftogaz of Ukraine and National Nuclear Energy Generating Company of Ukraine Energoatom.
It is also reported that the amount of government and NBU payments to repay and service public and publicly guaranteed debt in foreign currency amounted to $906.9 million, including $221.9 million sent back to the IMF.
According to the published data regarding the structure of the reserves, as of April 1 foreign exchange reserves amounted to $9.053 billion, Ukraine’s reserve position in the IMF was $30,000, special drawing rights worth $5.59 million, and gold worth $911,31 million.
"The current volume of international reserves of Ukraine is sufficient to fulfill the commitments and ongoing operations of the government and the National Bank of Ukraine", the report says.
As UNIAN reported earlier, the foreign exchange reserves of the NBU in February declined by 12.4% to $5.625 billion, breaking the last 11-year low of $6,218 billion in June 2003.
In 2014 reserves fell by $12.883 billion (63.1%).