OREANDA-NEWS.  Preliminary data suggests that as of 1 December 2015, Ukraine's international reserves amounted to USD 13,148 million in the equivalent.     The international reserves have increased by 75% or by USD 5,615 million year-to-date.   In November alone, the reserves added USD 186 million.

The revenues from swap operations with foreign banks in the amount of USD 650.5 million have contributed to the increase in the international reserves.  Another USD 9.5 million was purchased by the regulator through FX purchase auctions held to replenish the reserves.

Ukraine’s international reserves expanded despite the need for the Government to make payments related to the repayment and service of the public and publicly guaranteed debt denominated in foreign currency.  In November, Ukraine paid back USD 129.0  million (excluding repayments due to the IMF), including USD 34.9 million in debt service payments on external sovereign bonds and government securities.  Additionally, the Ukrainian Government and the National Bank of Ukraine paid a USD 55.5 million installment due to the IMF.

Furthermore, in November the NBU intervened in the FX market to smooth excessive exchange rate fluctuations.  Overall, USD 143.1 million was sold in November, of which USD 130.4 million was sold through FX auctions and USD 12.7 million –  through targeted FX interventions.  

Currently, the amount of Ukraine’s international reserves is sufficient to enable the Government and the National Bank of Ukraine to settle their foreign debt obligations and current operations.