Last year, the international reserves grew by $ 2.2 billion, or 17% on 1 January 2017 amounted to 15,539 billion dollars.
On Thursday 5 January, the press service of the NBU.
As noted, during the month the reserves were up 1.8%. The growth of reserves for December was received in favor of the government for the sum of 607,9 million dollars. These funds Ukraine received from two sources — from the placement of government bonds denominated in U.S. dollars, in the amount of $ 550,4 million and 55.1 million euros from the European Commission.
«However, the funds from the reserves were directed to payments from the government for servicing and repayment of public debt in foreign currency. For this purpose from the reserves was spent 140.9 million, including $ 119.8 million. — on repayment and servicing of government bonds nominated in dollars», — informs the press service of the NBU.
In addition, at the end of December increased volatility in the interbank market. The beneficial effects of fundamental factors that provide the foreign exchange proceeds from the export of grain and sunflower oil, were offset by temporary factors.
Accordingly, the national Bank only in the last week of December held three auctions to sell foreign currency in which granted the application of participants totaling 202.7 million.
In General, during December the national Bank bought during the auctions 115.0 million, and sold $ 234.4 million. The net sales of foreign currency by the National Bank during the last months of the year amounted to 119.4 million.
«One of the main sources of increase were foreign exchange interventions of the National Bank. Thanks to a favorable price conjuncture in foreign markets in April-July and the foreign currency proceeds from the export of food products from the end of September net purchase of foreign currency by the National Bank last year amounted to 1.6 billion dollars», — stated in the message NBU.
The increase in reserves was facilitated by the receipt of third tranche from the International monetary Fund under the program of expanded financing (EFF) in the amount of $ 1 billion, as well as associated with the IMF program of official financing. Namely, $ 1 billion. from the placement of Eurobonds by the Ministry of Finance under the guarantees of the U.S. Government.
At the same time, as previously warned by the national Bank, the volume of international reserves at the end of 2016 appeared below the official forecast of the NBU, published in the Inflation report at the end of October.
Published forecast was based on assumption of successful completion of the third review of the EFF in 2016. In this baseline scenario, the NBU is expected that the fourth tranche from the IMF in the amount of 1.3 billion dollars. will go to the end of last year.
«In this case and also in case of 600 million euros from the European Commission before the end of the year, at the end of 2016 international reserves would increase to 17.5 billion us dollars. Accordingly, receipt of this funding led to the fact that the actual level of reserves was us $ 2 billion. less predictable», — the press service of the regulator.
The NBU also noted that the results of 2016, the volume of international reserves of Ukraine covers the 3.7 months of future imports is sufficient to meet the liabilities of current operations of the government and the National Bank.
We will remind, in October 2016 the national Bank said that the international reserves of Ukraine amounted to 15,589 billion.
The international reserves of 2016 is increased by 17% 06.01.2017