Ukraine’s international reserves up 1.7% m/m to USD 16.2bn in September.

By bne IntelliNews October 7, 2014

In September, the National Bank's foreign exchange reserves grew by USD 272mn or 1.7% m/m to USD 16,200mn as of October 1, reads a statement made by the NBU. As the NBU underlines, disbursement of funds by the IMF helped the international reserves to increase in September. The National Bank also was approaching the interbank market throughout the month. The regulator sold USD 833.74mn and bought USD 98.30mn at the interbank market. Receipts to Government accounts from international financial institution and floatation of currency domestic government loan bonds made up USD 602.9mn in September.

According to the Central Bank, the reserves in foreign currency as at the end of the month made up USD 14,630.50mn, reserve position of the International Monetary Fund - USD 0.03mn, special drawing rights - USD 1.11mn, and gold - USD 1,568.73mn.

The IMF predicts that at the end of 2014, the amount of Ukraine's foreign currency reserves will stand at USD 16.2bn in optimistic scenario and USD 8.6bn in negative scenario. IMF experts note, now there is no sense in making forecasts for the next year as really no one knows what will become of the Ukrainian economy even in the coming months.

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