NBU raises share of dollars in reserves due to JPY and EUR, keeps more in cash, on correspondent accounts in 2022

KYIV. Jan 9 (Interfax-Ukraine) – The share of American dollars in Ukraine’s international reserves in 2022 increased from 80.2% to 83.6%, reflecting, among other things, the growth of the dollar exchange rate in the past year against major world currencies.

According to information on the website of the National Bank, in addition, the share of gold increased from 5.0% to 5.5%, which rose in price against the dollar by about 1.3% over the past year, although in absolute terms its value in reserves remained almost at the same level – $1.57 billion vs. $1.56 billion

At the same time, the share of the Japanese yen (JPY) fell noticeably – from 3.9% to 1.3%, the euro (EUR) – from 7.1% to 6.3% and the British pounds (GBP) – from 1.5% to 1.2%, as well as very little Chinese yuan (CNY) – from 2.1% to 2.0%.

Over the past year, the euro fell against the dollar by 5.8%, the pound – by 10.6%, the yen – by 12.2%.

In general, as reported, the volume of Ukraine’s international reserves in 2022 decreased by 7.9%, or by $2.45 billion, to $28.49 billion.

The NBU also indicates that in the structure of reserves in 2022, it significantly increased the share of cash, funds on correspondent accounts and on deposits – from 18.6% to 27.8%, and in absolute terms – from $5.77 billion to $7.92 billion.

This happened due to a decrease in the share of securities from 76.3% to 66.7%, and in absolute terms – from $23.62 billion to $19 billion.

In addition, in the structure of the securities portfolio, the share of instruments with a rating of "AAA" increased from 74.9% to 85.2%, while those with an "A" rating fell from 20.8% to 12.1%, and with an "AA" rating – from 4.3% to 2.7%.

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