KIEV: The international reserves of Ukraine in February increased by US$15 million and as of March 1 totaled US$15.46 billion, according to updated data presented on the website of the National Bank of Ukraine (NBU).
According to the central bank, the replenishment of reserves was facilitated by the growing supply of export proceeds in the interbank foreign exchange market.
This allowed the NBU to intensify operations in the interbank foreign exchange market, as a result net purchase of foreign currency amounted to US$80.9 million. The National Bank in February bought US$133.6 million, of which US$33 million during interventions in the form of a request for the best exchange rate and sold US$52.7 million, of which US$10 million during interventions in the form of a request for the best exchange rate.
Reserve expenditures in February were represented by payments on public debt. According to the NBU, some US$62.4 million was sent by the government to service and pay public debt in foreign currency (except for payments to the International Monetary Fund), including US$43.4 million for servicing and repaying foreign currency denominated government domestic loan bonds.
Payments by the government and the NBU to the IMF amounted to US$66.5 million.
Since the beginning of the year the level of reserves has fallen by US$79.63 million.
Currently, the level of reserves covers 3.3 months of future imports.
