Page 28 - UKRRptAug21
P. 28
The net purchase of foreign currency by the NBU at the FX market amounted to $583mn in June.
The NBU also reported a $181mn decline in the value of its securities portfolio.
As of July 1, Ukraine’s gross reserves amounted to 4.3 months of imports, the NBU said.
“The major outlay in foreign currency in July is the redemption of local Eurobonds for $350mn on July 29,” Akhtyrko added. “MinFin is likely to compensate for this outlay with receipts from new placements of local Eurobonds during the month. We expect the activity of non-resident investors at UAH debt market to weaken in July. Therefore, the NBU’s FX interventions are likely to lessen as well. The most likely case is that the NBU’s international reserves will stay flat in July.”
28 UKRAINE Country Report August 2021 www.intellinews.com
