Ukraine's international reserves update 4-year high

This is yet another highest indicator since January 2014, the central bank wrote on its website.

Read alsoUkrainian central bank expanding its blockchain team – mediaThe regulator has added with reference to preliminary data that from the beginning of the year, Ukraine’s foreign reserves have grown by almost 22%.

According to the NBU, the growth in reserves was due to revenues the government has received at $670.4 million, including $664 million as a result of placement of domestic bonds in foreign currency.

At the same time, in November Ukraine spent $447.1 million in payments to the International Monetary Fund, $18.5 million for the external bond loan service, and $282.2 million – in payments on internal government bonds.

Read alsoNBU cancels "anti-crisis" resolution reallowing sanctions against banksAlso in November, $100 million was used to repay the swap funds borrowed in October from an authorized bank. In addition, $49.1 million was allocated for interventions to smooth out excessive fluctuations in the forex market, while during this period the NBU bought $188 million in the foreign exchange market, and as a result, the net purchase of foreign currency by the regulator was at $138.9 million.

It is also reported that as of December 1, the volume of reserves covers 3.7 months of future imports and is sufficient to fulfill Ukraine's obligations, current operations of the government and the National Bank.