Ukraine's gold and foreign currency reserves make up USD 15.5bn as of early March.

By bne IntelliNews March 7, 2014

The volume of gold and foreign currency reserves of Ukraine made up USD 15.5bn as of the beginning of March, the National Bank of Ukraine (NBU) has announced. According to the National Bank, in February repayment and servicing of the debt to the IMF to the amount of USD 376mn was carried out, as well as other payments on government obligations worth USD 423mn.

During the month, the central bank carried out both the purchase and sale of the foreign currency on the interbank currency market of Ukraine. Total balance of its currency interventions in February was negative and made up USD 1.7mn. A considerable part of the foreign currency sale by the National Bank was sent to support of Naftogaz payments for imported natural gas.

According to the NBU, a gradual transfer to the flexible rate formation and continuation of negotiations on financial support from the IMF and other creditors reduces the pressure on the gold and foreign currency reserves, and in the perspective - will promote their growth. We believe that the international reserves in 2014 will mainly depend on the volume of financial aid received, and devaluation fears among population.

The volume of Ukraine's international reserves as of the end of January 2014 made up about USD 17.8bn, and at the beginning of this year, gold and foreign currency reserves reached USD 20.4bn.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Poroshenko officially nominates Smolii for post of Ukraine central bank governor

Ukrainian President Petro Poroshenko has nominated Yakiv Smolii, the acting head of National Bank of Ukraine (NBU), as a candidate for the post of governor to replace the outgoing governor ... more

Saakashvili sentenced in absentia by Georgian court to 3 years in jail

A Georgian court sentenced former president Mikheil Saakashvili in absentia to three years in prison on January 5 over his alleged involvement in the covering up of the murder of a Georgian banker in ... more

Most Read

  1. Romanian developers get in the game
    3 days ago
  2. Putin and Trump trying to walk back Syria strike and sanctions tensions
    4 days ago
  3. What’s the cost of US sanctions on Russia?
    5 days ago
  4. E-commerce dramatically eats into foot traffic at Moscow’s leading shopping malls
    15 days ago
  5. Romania entrepreneur aims to put home-grown UAV defence technology industry on the map
    5 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    25 days ago
  2. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    12 days ago
  3. Romanian developers get in the game
    3 days ago
  4. KRUK REPORT: Nadia Savchenko, Ukraine’s fallen hero
    30 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    4 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss