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Ukraine's forex reserves reach 14bn dollars by July

The increased by 3.3 per cent in June.

Ukraine's forex reserves reach 14bn dollars by July
Photo: Max Levin

Ukraine's forex reserves grew by 3.3 per cent or 452m dollars in June, to 13.988bn dollars, the National Bank of Ukraine (NBU) has reported on its website.

The central bank said that in the past 12 months reserves expanded by 36.3 per cent.

"Reserves grew in June first thanks to the purchase of currency by the NBU to smooth extra fluctuations on the interbank currency market and replenish reserves. Net currency purchase by the NBU during the month reached 429.6m dollars. The NBU did not hold auctions to sell currency in June," the bank said.

Some 70m dollars was paid to the government in June, including 50m dollars from the placement of government bonds pegged to the US dollars.

The NBU said that the reserves grew amid payments to service state and guaranteed debt worth 171.2m dollars, including 164.2m dollars sent to service government bonds.

The central bank said that international reserves cover 3.6-months of imports.

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