Ukraine`s international reserves increase to $15.5 bln in September

The foreign exchange reserves of Ukraine to date have grown to $15.5 billion, which is 9.9%, or 1.4 billion, more than at the beginning of September, according to the National Bank of Ukraine.

The increase in reserves in September was due to the receipt of the third tranche of the International Monetary Fund amounting to $1 billion as well as the placement of eurobonds worth $1 billion under the guarantees of the U.S. Government, reads the data the National Bank of Ukraine prepared for the meeting of the Verkhovna Rada Committee on finance and banking policy, which did not take place due to a lack of quorum.

Also, the regulator said that in September it held auctions in the interbank foreign exchange market both to buy and sell the currency to stabilize hryvnia exchange rate. The NBU has bought $160 million more than it has sold.

It is also reported that the National Bank maintained its forecast for 2016, expecting the reserves to grow to $17.2 billion by year-end given continued cooperation with the IMF and incoming revenues from related funding.

As UNIAN reported earlier, Ukraine`s international reserves in August increased by 0.15%, or $21 million, to $14.103 billion.

At the beginning of September, the Ministry of Finance paid $505 million in the coupon yield on the bonds of external state loan from 2015.

According to the report of the International Monetary Fund released October 3, the Fund lowered its forecast on the level of foreign exchange reserves of Ukraine by $ 4 billion, or 11.4%, from the earlier expected $35.2 billion to $ 31.2 billion at the end of the period of the current cooperation program with Ukraine in 2018. By the end of 2016, the reserves are estimated to grow to $16.8 billion and to $23.7 billion at the end of 2017, according to the IMF forecast.

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