Ukraine’s International Reserves Were Up Nearly USD 1 Billion in November

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Preliminary data suggest that Ukraine’s international reserves increased 5.8% or USD 974.5 million in November, to the equivalent of USD 17,711.5 million as of 1 December 2018. The international reserves increased as a result of the government raising funds and the NBU purchasing foreign currency in the interbank market.

The government received  USD 2,000.0 million from the placement of eurobonds and USD 82.9 million from the sale of domestic government bonds. At the same time, public debt payments were lower than the revenues from the sale of government securities. Specifically, in November, the government conducted an early redemption of USD 725.0 million in short-term eurobonds that was raised through a private placement in August this year.

Additionally, the government and the National Bank of Ukraine paid the equivalent of a total of USD 439.1 million to the International Monetary Fund last month. Other government payments to service and repay public debt denominated in foreign currency amounted to the equivalent of USD 238.2 million, including USD 149.1 million on domestic government bonds and USD 18.5 million on eurobonds.

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