As of June 1, 2025, Ukraine's international reserves, according to preliminary data, amounted to USD 44,535.5 million, in May they decreased by 4.6%.
This is stated in the NBU report, Ukrainian News Agency reports.
Such dynamics were due to the NBU's currency interventions and the country's debt payments in foreign currency.
These operations were only partially offset by revenues from international partners and from the placement of currency bonds of the domestic government loan (currency-denominated government bonds).
Despite the decrease, the volume of international reserves is greater than at the beginning of the year and sufficient to maintain the stability of the foreign exchange market.
In general, the dynamics of reserves was determined by a number of factors.
Firstly, the operations of the National Bank in the foreign exchange market of Ukraine.
According to the balance sheet data, the National Bank sold USD 2,962.4 million on the foreign exchange market and bought USD 1.3 million to reserves. Thus, the net sale of foreign exchange by the NBU in May amounted to USD 2,961.1 million.
Secondly, receipts in favor of the government and payments for servicing and repayment of the state debt.
In May, the government's foreign exchange accounts with the National Bank received USD 1,357.1 million. Of this amount:
- USD 1,129.5 million - from the European Union within the framework of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative;
- USD 227.6 million - from the placement of foreign currency government bonds.
- USD 310.1 million was paid for servicing and repaying the state debt in foreign currency, of which:
- USD 184.4 million - servicing and repayment of foreign currency government bonds;
- USD 67.1 million - debt service and repayment to the EIB;
- USD 30.2 million - debt service and repayment to the EBRD;
- USD 28.4 million - payments to other international creditors.
In addition, Ukraine paid USD 296.3 million to the International Monetary Fund.
Thirdly, the revaluation of financial instruments (due to changes in market value and exchange rates).
In May, due to revaluation, the value of financial instruments increased by USD 55.8 million.
The current volume of international reserves provides financing for 5.4 months of future imports.
As Ukrainian News Agency earlier reported, in 2024, international reserves grew by 8% to USD 43.8 billion.
In 2023, Ukraine's international reserves grew 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.
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