International reserves of Ukraine for May 2023 increased by 3.8% to 37.3 billion dollars. This amount of reserves is a record for the last 11 years (since August 2011).
This was reported by the press service of the NBU.
"International reserves increased due to steady and rhythmic inflows from international partners, which exceeded the net sale of foreign currency by the National Bank and the country's debt payments in foreign currency," the report said.
The government's foreign currency accounts at the National Bank received 4.323 billion dollars. From this amount:
1.616 billion dollars - macro-financial assistance from the EU;
1.250 billion dollars - from the United States (through the World Bank trust fund);
1.074 billion dollars - from the placement of currency bonds of the domestic state loan (OVDP);
383.1 million dollars - from the World Bank.
The Government of Ukraine paid 842.2 million dollars for servicing and repayment of the state debt in foreign currency. In addition, Ukraine paid 195.5 million dollars to the International Monetary Fund.
The situation on the currency market
In May 2023, the National Bank sold 1.9 billion dollars on the foreign exchange market, which is 40.7% more than in April. According to the NBU, this happened against the background of the exhaustion of the seasonal factor (increase in the sale of currency by farmers for planting), as well as in view of the difficulties with the export of food to neighboring countries and through the "grain corridor".
"At the same time, the receipts from international partners were significantly larger than the volume of interventions by the NBU on the sale of currency, which were carried out to cover the difference between supply and demand on the foreign exchange market of Ukraine," the NBU added.
The National Bank of Ukraine (NBU) forecasts the size of Ukraine's international reserves by the end of 2023 at the level of 34.5 billion dollars. This is higher than the January forecast ($27.0 billion).