What the NBU spent billions of dollars on in February: reserves decreased by 5%

Dynamics of international reserves in February

According to ХВИЛЯ: In February, the volume of international reserves of the National Bank of Ukraine (NBU) decreased by 5%. To maintain the exchange rate of the hryvnia, the regulator spent 2.989 billion US dollars, leaving a balance of 54.8 billion dollars. Activity in the currency market is confirmed by the daily trading volume in the interbank market through the Bloomberg system, which fluctuates between 200 and 300 million dollars.

Receipts and payments in February

Financial support for Ukraine this month included the receipt of 690 million US dollars under the ERA program, as well as 310 million dollars from the placement of domestic government bonds (OVGZ). At the same time, the following payments were made in February:

• 472 million US dollars on OVGZ,
• 332 million US dollars to other creditors,
• 280 million US dollars to the International Monetary Fund.

As noted by expert Alexey Kozyrev, 'this is completely enough to control the situation in the interbank market and thereby indirectly control it in the cash market as well'.

He also emphasized that 'currently, the situation is fully under the control of the National Bank, meaning it has enough reserves to keep the hryvnia at the necessary level right now'. These factors indicate the resilience of the financial system, despite the challenges the country is facing. The dynamics of the NBU reserves is a key indicator for assessing macroeconomic stability and directly affects the exchange rate of the national currency.

The current situation with international reserves and currency fluctuations highlights the importance of competent financial policy management in conditions of economic instability. The availability of sufficient reserves allows the NBU not only to support the hryvnia but also to fulfill obligations to international creditors. This, in turn, positively influences the investment climate and trust in the country's financial system.