2023-08-07 17:01:00
For the second time in a row since Ukraine’s independence
Posted on: August 07, 2023: 09:01 PM GST Last updated: August 07, 2023: 09:56 PM GST
Ukraine’s central bank said on Monday that the country’s foreign exchange reserves rose to a new record high of $41.7 billion at the beginning of August.
The central bank said in a statement that reserves continue to grow thanks to a steady flow of financial aid from Ukraine’s western partners.
“Foreign exchange reserves rose 6.9 percent in July, setting a record level for the second time in a row since Ukraine’s independence,” the statement said. Reserves amounted to $39.026 billion at the beginning of July.
The central bank added that it received $4.68 billion in July, including $1.657 billion from the European Union, $1.496 billion from Japan and $1.250 billion from the United States. He said the government also raised about $227 million from a local hard currency bond offering.
And the bank added that Ukraine had repaid an external debt of $394.6 million in July.
The central bank also sold $1.8 billion worth of bonds in the foreign exchange market in July. He pegged the local currency (the hryvnia) at 36.57 against the dollar last summer and intervened regularly to reduce the gap between the official rate of the currency and the money market.
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