The foreign exchange reserves of Ukraine decreased by 4.5% in July — NBU

The foreign exchange reserves of Ukraine decreased by 4.5% in July — NBU

According to the National Bank, in July, Ukraine’s foreign exchange reserves decreased by 4.5%.

It specifies that this decrease occurred due to the repayment of foreign currency debts in the amount of 3.4 billion dollars, and also because the National Bank sold 3.46 billion dollars more currency on the interbank market than was purchased.

In addition, receipts from Western partners turned out to be lower than expected and amounted to 1.17 billion dollars from the EU and 0.41 billion from the IMF.

Nevertheless, the National Bank states that «despite the decrease, the volume of international reserves remains sufficient to ensure the stability of the foreign exchange market».