Ukraineʼs international reserves exceeded the pre-war level

As of December 1, Ukraineʼs international reserves exceeded the pre-war level for the first time. They reached almost $28 billion.

The press service the National Bank writes about this.

"As of December 1, 2022, Ukraineʼs international reserves, according to preliminary data, amounted to $27.95 billion. This level is higher than at the beginning of Russiaʼs full-scale war against Ukraine: as of the morning of February 24, 2022, they amounted to $27.4 billion," the NBU noted.

In November, reserves increased by 10.7% due to the inflow of international aid against the background of lower volumes of currency sales by the National Bank and moderate debt payments.

In general, during November, the dynamics of international reserves were determined by the following factors: public debt management operations, operations of the National Bank on the interbank foreign exchange market, and revaluation of financial instruments (due to changes in market value and exchange rates).

• Ukraine expects to receive $12 billion in aid by the end of the year. Thanks to further international support, the National Bank will be able to maintain gold and foreign exchange reserves at a sufficient level in the years to come.