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domestic government debt securities, while the rest was paid to discharge obligations to foreign lenders;
Second, the NBU's FX interbank transactions In July, demand for currency on interbank FX market somewhat exceeded supply, thus the NBU renewed interventions to sell foreign currency and alleviate excessive fluctuations. Last month interventions amounted to $498.7mn.
At the same time, on some days the situation on the FX market was favourable and the NBU encouraged replenishment of reserves on the account of purchased FX currency.
Overall, such interventions amounted to $130mn; and Third, the revaluation of financial instruments (due to changes in their market value and in FX rate).
Last month, their value increased by $406.3mn.
Currently, international reserves cover 4.9 months of future imports. This is sufficient for Ukraine to meet its obligations, and for the government and the NBU to conduct their current operations, the regulator said.
The country's international reserves as of July 1 totalled $28.516bn, which was 12.4% up from the figure reported as of June 1. Ukraine's international reserves in 2019 grew by 22%, to $25.3bn as of January 1, 2020, having hit a seven-year high since December 2012.
34 UKRAINE Country Report September 2020 www.intellinews.com
