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Ukrainian Foreign-Exchange Reserves Decreased by 8.5% in September 2011

In September, foreign exchange receipts from non-residents exceeded payments to them by USD 617 mln. (in the currency equivalent). At the same time, despite all seasonal factors and international financial market strains, the foreign currency domestic demand which exceeded the currency proposals was increasing.

In this view, the foreign currency net demand has been leveled by hryvnia exchange rate fluctuations and currency interventions of the National Bank of Ukraine. Its negative balance for a month exceeded USD 1.9 bln.

The National Bank of Ukraine supported payments of the NJSC “Naftogas of Ukraine” under its foreign contracts. It encouraged the company’s timely settlement for imported gas with a simultaneous preservation of the predicted exchange rate dynamics of hryvnia.

In September 2011, the Ukrainian foreign-exchange reserves decreased by 8.5%, i.e. by USD 3,255,065,000, and totaled USD 34,950,018,000. The foreign currency reserves totaled USD 33 bln. 388.22 mln., and the gold reserves made up USD 1 bln. 452.19 mln.

Within a month period, the market UAH-to-USD exchange rate for cashless settlements decreased by 0.02%, to UAH 7.9985 /USD 1, and for USD cash sales transactions – by 0.23%, to UAH 8.0407 /USD 1.

According to the official exchange rate, the UAH depreciation against the USD was 0.03%, to UAH 7.9727 / USD 1. Also, the hryvnia strengthened by 9.45% and 5.44% towards RUR and EUR, to UAH 2.5012 /RUR 10 and UAH 10.85.48 /EUR 1, respectively.

Source: National Bank of Ukraine