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National bank: Ukraine’s foreign reserves surpass pre-war level

by The Kyiv Independent news desk December 6, 2022 9:24 PM 1 min read
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Ukraine's foreign currency assets amount to $27.95 billion as of Dec. 1, with an increase of 10.7% on November's figure thanks to “the rhythmic inflow of international aid, lower volumes of currency net sales and moderate payments of the state debt in foreign currency,” according to the National Bank of Ukraine (NBU).

Another cause for the growth in reserves was the revaluation of financial instruments following changes in market value and exchange rates, the NBU wrote.

The current volume of international reserves provides financing for 3.5 months of future imports, which is sufficient to fulfill the obligations and current operations of Ukraine's government and the National Bank, the authorities added.

On Feb. 24, when Russia’s full-scale invasion of Ukraine started, the country’s international reserves stood at $27.4 billion.

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