Page 30 - UKRRptFeb23

5.2.2 Current account dynamics
Ukraine recorded a Current Account surplus of 227 $mn in November of 2022.
5.2.3 Gross international reserves
The National Bank of Ukraine (NBU) said in January that its foreign reserves grew by 1.9% in December, still lower than pre-war level. According to the National Bank, Ukraine's foreign reserves reached $28.5bn as of January 1. The number is still lower than the pre-full-scale war number of nearly $31bn.
Ukraine increased its share of international reserves in dollars.The share of US dollars in Ukraine's international reserves increased from 80.2% to 83.6% in 2022. This happened due to the dollar's growth against the main world currencies last year. At the same time, according to the National Bank, the share of gold increased from 5% to 5.5%. It appreciated against the dollar last year by about 1.3%, although in absolute terms, its value in Ukraine’s reserves remained almost at the same level, £1.57bn compared to £1.56bn. At the same time, the share of the Japanese yen fell significantly, from 3.9% to 1.3%, the euro from 7.1% to 6.3%, and the British pound from 1.5% to 1.2%, and the share of the Chinese yuan decreased slightly, from 2.1% to 2%. In 2022, the euro depreciated against the dollar by 5.8%, the pound by 10.6%, and the yen by 12.2%.
30 UKRAINE Country Report February 2023 www.intellinews.com