Ukraine`s intl reserves grow 4.1% in April to $13.2 billion – NBU

Ukraine`s international reserves as of May 1, 2016, amounted to $13.241 billion, which is $519.5 million, or 4.1%, more compared to April 1 ($12.722 billion), according to preliminary data, the National Bank of Ukraine reported on its website.
In April, the National Bank has returned money for swap operations in the amount of US $ 762.2 million / Photo NBU
The April growth of reserves was primarily due to the purchase by the NBU of foreign currency to smooth excessive fluctuations in the interbank market, reads the report. Thus, the net purchase of foreign currency by the National Bank in the past month amounted to $675.8 million.
Also, as noted in the report, to the growth of reserves contributed the receipts in favor of the government in the amount of $661.1 million, Including $651.1 million from the placement of internal treasury bonds in foreign currency and $10 million from the International Bank for Reconstruction and Development.
At the same time, the government in April made payments to repay and service public and publicly guaranteed foreign currency debt in the amount of $114 million, including $58.4 million on servicing of government securities.
Also in April, the National Bank has returned SWAP operation money totaling $762.2 million.
According to the regulator`s estimates, the current level of reserves covers 3.4 months of imports and is sufficient to fulfill the obligations and ongoing operations of the government and the National Bank.
As UNIAN reported earlier, Ukraine`s international reserves as of April 1, 2016, amounted to $12.722 billion, which was $768 million, or 5.7%, less than on March 1 ($13.490 billion).
According to the NBU forecasts, the volume of international reserves of Ukraine will be $18.7 billion by the end of the year, while the key factors of their growth is the resumption of cooperation with the International Monetary Fund.
In 2015, Ukraine`s forex reserves increased by 77%, or $5.767 billion, to $13.3 billion.

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