Investor Presentaiton
July 2020
Source NBU
Sufficiently accumulated international reserves
Months of
Comments
Gross international reserves grew by 38.2% (y-o-y) and
reached US$ 28.5bn as of July 1, 2020 (covering 4.8 months
of future imports)
Maintained high levels of FX reserves and floating FX rate
policy are the most influential factors providing strong buffer
for Ukraine on the back of the current crisis (vs previous ones)
Over June 2020, the international reserves increased by
12.4% (m-o-m) mainly as a result of international funding
disbursements (USD 2,076m from the IMF and EUR 500m
from the EU), new FX placements (US$ 353m), government
transaction to repay public debt (US$ 1,192m), NBU's net FX
purchases (US$ 1,155m), and financial instruments
revaluation gain (US$ 154m)
30
30
25
25
15
10
10
5
Gross international reserves by instrument
Jan-18
imports
Gross and net international reserves (eop), US$ bn
2.9x
3.3x
3.5x
28.5
27.0
20.8
21.4
18.8
20
17.7
17.5
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Gross international reserves by currency
1.9
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul 1, 2019
Jul 1, 2019
Jul 1, 2020
18%
18%
■Securities (rating A)
5%
Jul 1, 2020
3%
■ USD
6%
16%
5%
25%
Securities (rating AA)
4%
5% 5%
US$ 20.6bn
Jul 1, 2019
US$ 20.6bn
7%
■Securities (rating AAA)
12%
Jul 1, 2019
18%
■ EUR
■GBP
■ JPY
US$ 28.5bn
10%
■Monetary gold
US$ 28.5bn
Jul 1, 2020
44%
Banknotes, current
accounts, time deposits
52%
Jul 1, 2020 67%
■ CNY
■ Gold
72%
■ Other
8
4.8xView entire presentation