Ukraine's foreign reserves rise in August, first time in 5 months

Xinhua , Tuesday 6 Sep 2022

Ukraine's foreign reserves rose 13.6 percent in August, expanding for the first time in five months, data from the National Bank of Ukraine (NBU) showed on Tuesday.

Ukraine s Central bank
Ukraine s Central bank headquarter. Photo courtesy of the National news agency of Ukraine (UKRINFORM)

 

The reserves had increased to about 25.4 billion US dollars last month, sufficient to cover four months of Ukraine's imports and meet the country's obligations, the bank said in a statement on its website.

The deposits have risen mainly because Ukraine obtained 4.78 billion dollars from its foreign partners last month, the statement said.

Besides, the NBU raised the money to fill the country's international reserves by carrying out operations on the interbank currency market and tightening monetary policy.

In 2021, Ukraine's foreign deposits increased by 6 percent to about 30.9 billion dollars.

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