Ukraine's international reserves exceeded $41.7 billion in July – NBU

As of 1 August 2023, Ukraine's international reserves, according to preliminary data, amounted to $41.7 billion. In July, they increased by 6.9%, updating the record for the second consecutive time in the entire history of Ukraine's independence. The previous maximum reserve level was recorded on 1 July 2023 – $39 billion.

It is noted that the government's foreign exchange accounts in the National Bank received $4.6 billion. Of this amount:

• $1.6 billion – macro-financial assistance from the EU;
• $1.4 billion – concessional loan guaranteed by the Japanese government through the World Bank's Targeted Fund;
• $1.3 billion – grant funds through the World Bank Trust Fund, of which $1,250.0 million came from the United States;
• $227.3 million – from the placement of domestic government foreign currency bonds.

According to the NBU, for the servicing and repayment of foreign currency national debt, the Ukrainian government paid $394.6 million, of which: $319.6 million – for servicing and repayment of domestic government foreign currency bonds, $66.8 million – debt to the World Bank, the rest – debt to other international creditors.

"In July 2023, the National Bank (according to balance data) sold $1,873.4 million on the foreign exchange market and bought into reserves $12.9 million. Thus, the NBU's net currency sale last month amounted to $1,860.5 million," the National Bank states.

Additionally, it is clarified that in July, as a result of revaluation, the value of financial instruments increased by $266 million.

Background. Earlier, Mind reported that Ukraine's international reserves had reached nearly $39 billion.