International reserves of Ukraine in April 2016, according to preliminary data, increased by 519,5 million us dollars, or 4.1%, and by may 1 totaled 13,241 billion dollars, reported on the official website of the National Bank of Ukraine (NBU) on Friday, may 6, 2016.
«The increase in reserves in April was primarily due to the purchase of National Bank of foreign currency to smooth excessive fluctuations in the interbank currency market and the replenishment of reserves. Net purchase of foreign currency by the National Bank during the month was year, 675.8 million dollars. In particular, during the month there have been 13 foreign exchange auctions during which net purchase of foreign currency amounted to 528,4 million dollars. Auctions for the sale of currency by the national Bank during April not conducted», — says the Central Bank.
In addition, the build-up of reserves contributed to the flow in favor of the government in the amount of 661,1 million dollars, of which 651,1 million dollars from placing of bonds of internal state loan, denominated in U.S. dollars, 10 million dollars from the International Bank for reconstruction and development.
According to the report, the increase in reserves occurred despite the government’s implementation of payments to repay and service public and publicly guaranteed debt in foreign currency in the amount of 114 million dollars, including the 58.4 million dollars were allocated for service on state securities.
In addition, in April, the NBU carried out the repayment of swap operations in the amount of 762,2 million dollars (balance).
According to the assessment of the Central Bank, the volume of international reserves of Ukraine covers 3.4 months of imports.
According to media reports, in 2014 the volume of sales on the foreign exchange interbank market of Ukraine reached an average of 500 million dollars a day, in 2015 — already 196 million in 2016 and $ 175 million. According to official data, export revenue in 2014 decreased by 30%, that is, the volume of the currency market had to be reduced to an average of 350 million dollars a day. This suggests that up to 50% of the setting of currency remains on the black market.
In April the international reserves of Ukraine grew by 4.1% — NBU 06.05.2016