Ukraine's international reserves decline for the fourth month in a row
Ukraine's international reserves as of December 1, 2023, according to preliminary data, amounted to $38.8 billion, down 0.5% in November.
This was reported by the press service of the National Bank of Ukraine.
The NBU's interventions to maintain exchange rate stability and the country's debt payments were largely offset by proceeds from international partners, the NBU explained.
In general, in November 2023, the dynamics of international reserves were determined by a number of factors, the regulator added.
The first factor is the NBU's operations in the foreign exchange market of Ukraine. The NBU sold USD 2.45 billion in the foreign exchange market and bought back USD 3.7 million in reserves.
Thus, the NBU's net sale of foreign currency in November amounted to USD 2,452.9 million, which, according to the NBU, decreased by 1.4 times compared to October "after the market successfully adapted to the regime of managed exchange rate flexibility."
Author - Olena Madiak, 06/12/2023
