Ukraine’s International Reserves Decrease⁤ by 6% in ⁣October 2024

As of November 1, 2024, ​Ukraine’s international ⁢reserves stood at $36.58 billion, according to preliminary​ data. This represents a 6% decrease from the previous month, with a total decline of $2.32 billion.

The National Bank of Ukraine (NBU) attributed⁢ the decline in international reserves to its ‌foreign exchange interventions aimed at covering⁤ the structural deficit in foreign currency and smoothing out exchange rate fluctuations. ‍Additionally, the country made debt payments ⁢in foreign currency, which were only partially offset by profits from international ⁤partners‌ and the placement of foreign currency bonds.

The NBU’s net sale of foreign currency in October 2024 was $3.43 billion. Furthermore, $943.4 million was paid towards servicing and repaying⁣ the​ government’s ​debt in foreign currency.

However, the government’s foreign currency accounts at the National Bank received a transfer of $2 billion last month.⁢ This influx of funds is expected ​to contribute to the growth of international reserves in the coming months.

According ​to ​the National Bank’s forecast,⁢ Ukraine’s international reserves are⁣ expected to reach $43.6 billion by the end of December 2024, taking into⁣ account the⁤ financing guarantees provided by international partners.