Turkey keeps policy rate constant at 50%
10 hours ago
Ukraine's foreign exchange reserves increased by $240mn, or 1.3% month-on-month to $18.035bn in August, the National Bank of Ukraine (NBU) said in a statement on September 5.
The result was attributed to the fact that the government raised $351.5mn via the placement of FX-denominated domestic government bonds, while the NBU intervened in the interbank market by purchasing foreign currency (the regulator's net forex purchases stood at $234mn) in August.
At the same time, Kyiv was forced to send $448.7mn to the International Monetary Fund (IMF) to repayment some of its public debt. The Ukrainian authorities also sent $50.1mn to service public debt in August, aspecifically, $12.3mn for servicing Kyiv FX-denominated domestic government bonds.
The current level of Ukraine's forex reserves covers 3.6 months of future imports and is sufficient to meet the country's obligations and carry out the current operations of the government and the NBU, the central bank said.
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Turkey keeps policy rate constant at 50%
Central bank is, notably, no longer talking about building up its reserves in parallel with so-called monetary framework simplification policy.
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