Ukraine's international reserves as of May 1, 2015 stood at $9.631 billion, which is $339 million, or 3.4 percent less than a month earlier, according to the National Bank of Ukraine.
“The dynamics of reserves in April this year was caused primarily by the need to make payments to repay and service public and publicly guaranteed debt in foreign currency for a total of $737 million,” the NBU said.
The Central Bank said that $387 million was repaid on government external loan bonds and government securities, while another $218 million was repaid to the International Monetary Fund.
“In addition, the level of international reserves was influenced by NBU interventions through foreign currency sales in the amount of $240 million, of which $140 million was sold on the targeted interventions of Naftogaz Ukrainy. Interventions via foreign currency purchases amounted to $158 million,” the regulator added.
It said that the increase in international reserves in April was facilitated by obtaining $161 million from the conversion of Chinese yuans in the international currency market and the receipt of funds in the amount of 250 million euro from the European Commission for the government of Ukraine.
“At present Ukraine’s international reserves are sufficient to fulfill the commitments and current operations of the government and the NBU,” reads the report.
Since the beginning of 2015, Ukraine’s international reserves have grown by $2.098 billion, or by 27.8 percent.
