Ukraine’s international reserves have grown to $ 28.8 billion, the National Bank said. In July, the gold and foreign exchange reserves increased by $ 300 million. “The growth of reserves during the last month was primarily due to the successful placement of Eurobonds by the government,” the NBU explained.
At the same time, in July, demand for foreign exchange in the interbank foreign exchange market slightly exceeded supply, so the National Bank resumed its interventions to sell foreign exchange to smooth out excessive fluctuations. The regulator sold almost $ 500 million in a month. At the same time, on some days, the situation on the foreign exchange market made it possible to buy 130 million dollars.
“The current volume of international reserves covers 4.9 months of future imports, which is sufficient to fulfill the obligations and current operations of the government and the National Bank,” the regulator said. In July, the leadership of the NBU changed. At the beginning of the month, Yakov Smoliy submitted his resignation, who announced the pressure.
Kirill Shevchenko took his place. Against the background of the change in the head of the regulator, the devaluation of the national currency took place. Gold and foreign exchange reserves of Ukraine continue to hold at the level of the fall of 2012.