International reserves down 7.3% to USD 48.2 billion in April
As of May 1, 2026, Ukraine's international reserves, according to preliminary data, amounted to USD 48,214.7 million, in April they decreased by 7.3%.
This is stated in the message of the National Bank, Ukrainian News Agency reports.
Such dynamics were due to the currency interventions of the National Bank and the country's debt payments in foreign currency.
These operations exceeded the proceeds from the placement of currency bonds of the domestic government loan (hereinafter referred to as foreign exchange government bonds) and from international partners.
Despite the decrease, the volume of international reserves is sufficient to maintain the stability of the foreign exchange market.
In general, the dynamics of reserves in April 2026 were determined by a number of factors.
Firstly, the operations of the National Bank in the foreign exchange market of Ukraine.
In April, compared to March 2026, the National Bank's net sale of currency decreased by 25.1%.
According to balance sheet data, the National Bank sold USD 3,576.7 million on the foreign exchange market in April.
Secondly, receipts in favor of the government and payments for servicing and repaying the public debt.
In April, the government's foreign exchange accounts with the National Bank received USD 377.9 million, including:
- USD 339.4 million - from the placement of foreign exchange government bonds;
- USD 38.5 million - through World Bank accounts.
In addition, Ukraine received a loan of USD 1,010.0 million in accordance with the agreement between Ukraine and the United Kingdom within the framework of the ERA.
These funds were not included in Ukraine's international reserves due to their limited (targeted) purpose for use.
For servicing and repayment of the state debt in foreign currency, USD 716.6 million was paid, including:
- USD 433.7 million – servicing and repayment of foreign currency government bonds;
- USD 186.7 million – servicing and repayment of debt to the World Bank;
- USD 73.4 million – servicing and repayment of debt to the EU;
- USD 22.8 million – payment to other creditors.
In addition, Ukraine paid USD 255.3 million to the International Monetary Fund.
Thirdly, the revaluation of financial instruments (as a result of changes in market value and exchange rates).
In April, due to revaluation, the value of financial instruments increased by USD 378.0 million.
The current volume of international reserves provides financing for 4.9 months of future imports.
As Ukrainian News Agency earlier reported, during 2025, Ukraine's international reserves increased by more than 30% to USD 57.3 billion.
In 2024, international reserves increased by 8% to USD 43.8 billion.
In 2023, Ukraine's international reserves increased by 42% to USD 40.5 billion.
In 2022, international reserves decreased by 7.9% to USD 28.5 billion.
In 2021, international reserves increased by 6% to USD 30.941 billion.