Ukraine’s foreign exchange reserves reach a record level of $41.7 billion

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Ukraine’s central bank said on Monday that the country’s foreign exchange reserves had grown to a new record high of $41.7 billion at the beginning of August.

The central bank said in a statement that reserves continue to grow thanks to a steady flow of financial aid from Ukraine’s western partners.

Ukraine’s central bank statement said, “Foreign exchange reserves rose 6.9% in July, setting a record level for the second time in a row since Ukraine’s independence”.

According to Ukraine’s central bank data, foreign exchange reserves amounted to $39.026 billion at the beginning of July.

The Ukrainian central bank added that it received $4.68 billion in July, including $1.657 billion from the European Union, $1.496 billion from Japan and $1.250 billion from the United States.

The Ukrainian central bank revealed that the government also raised about $227 million from a local hard currency bond offering.

The bank added that Ukraine had repaid an external debt of $394.6 million in July.

The central bank also sold $1.8 billion worth of bonds in the foreign exchange market in July.

The local currency (Hryvnia) value was at 36.57 against the US dollar last summer and intervened regularly to reduce the gap between the official rate of the currency and the money market.

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