The National Bank of Ukraine (NBU) reported that international reserves have increased to $37.3 billion, second highest to August 2011.
- Ukraine had $37,311.3 million in international reserves as of 1 June 2023, according to preliminary data.
- In May, international reserves increased by 4% and rose to a new 11-year high. This is the second highest level to August 2011.
- International reserves increased thanks to sustainable and regular inflows from international partners, which exceeded the NBU’s net FX sales, and Ukraine’s FX debt repayments.
Overall, international reserve dynamics throughout May 2023 were driven by a number of factors: inflows to the government’s accounts, and the servicing and repayment of public debt; NBU transactions in the Ukrainian FX market; the revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations).