Ukraine’s foreign currency reserves, which had decreased to $37.2 billion as of August 1, have now surpassed $40 billion, the central bank reported on Tuesday. This increase is attributed to a significant financial aid inflow from the United States.
The central bank noted that the reserves fell by 1.8% in July. This decline was primarily due to the bank’s interventions to address the structural foreign currency deficit in the market and to meet debt payment obligations.
On Monday, Ukrainian officials announced the receipt of $3.9 billion in aid from the U.S. This marks the first financial assistance of 2024, following a delay caused by Republican objections in Congress.
“Thanks to this aid, international reserves have now exceeded $40 billion,” the central bank stated via Telegram.
As the conflict with Russia enters its 29th month, Ukraine continues to depend heavily on financial support from Western allies to fund social programs while directing its own revenue toward military expenditures. The bank also reported that Ukraine paid $185 million in foreign debt servicing in July.
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