Ukraine’s foreign exchange reserves to be cut to $21B by year-end

Ukraine’s foreign exchange reserves are expected to decrease to $21 billion by the end of 2022, the National Bank of Ukraine (NBU) Deputy Governor Sergiy Nikolaychuk said at a briefing, Ukrinform reports.

“We expect that the [foreign exchange] reserves will slightly decrease by the end of the year, approximately to $21 billion. They will also fluctuate at this level next year,” Nikolaychuk informed.

As of July 1, 2022, Ukraine’s foreign exchange reserves reached $22.8 billion, thus having reduced by 9% over the past month.

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