Surging purchases of Ukrainian government bonds by international investors,
high prices of Ukraine’s export commodities, and central bank dollar purchases contributed to Ukraine’s foreign reserves rising by almost 2% in June, to $28.4 billion. International investor share of government bonds increased by $450 million in June 2021. To keep the hryvnia from overvaluing, the National Bank of Ukraine earned $583 million in net dollar purchases in June, the central bank reports. On July 1, Ukraine’s gross reserves amounted to 4.3 months of imports, a level seen as comfortable.