Ukraine’s international reserves have decreased by 7%.
In May, Ukraine’s international reserves fell by 7% – as of June 1 these reserves, according to preliminary data, amounted to $25.1 B, reported the National Bank of Ukraine. In May, reserves decreased by 7%, primarily due to the sale of currency on the interbank foreign exchange market, which was partially offset by funding from international partners. The NBU explained that three factors determined the dynamics of international reserves in May:
- The first is the interbank foreign exchange market operations, significant expenditures on defense needs, imports of goods and services, and settlements with international payment systems.
- The second is public debt management operations. The total amount of government payments for servicing and repayment of public debt in foreign currency is $144.8M.
- The third is the revaluation of financial instruments due to market value and exchange rate changes. Last month, their value increased by $63.1M.