Despite the large volume of currency sales in January, Ukraine’s international reserves grew to $30B.

According to the National Bank, during the first month of the year, reserves increased by 5% to $29.9B. The National Bank received $4.33B into the government’s currency accounts during the month. Of these, $3.2B came from the EU, $1B from the US, and $71.6M from the placement of domestic government bonds. At the same time, the Cabinet of Ministers paid out $65M for servicing and repayment of the state’s debt in foreign currency. Of this, $59M went to the World Bank, $5M went to foreign currency government bonds, and the rest was a debt to other international creditors. In addition, net interbank currency sales decreased by $100M compared to December, to $3.1B. The revaluation of the value of financial instruments, which increased to $225.7M, also contributed to the growth of reserves.