In April, they increased by 10.2%. As of May 1, 2025, Ukraine’s international reserves, according to preliminary data, amounted to $46,683.1 million, Banker.ua reports with reference to the NBU press service.
Such dynamics are due, on the one hand, to significant volumes of receipts from international partners, and on the other hand, to the smallest volumes of net sales of currency by the National Bank on the foreign exchange market since April 2024.
In general, the dynamics of reserves were determined by a number of factors.
First, receipts in favor of the government and payments for servicing and repaying the public debt.
The government’s foreign exchange accounts with the National Bank received $6,347.6 million. Of this amount:
$4,861.6 million – from the European Union within the framework of the Ukraine Facility and the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative;
$1294.0 million – from international partners through the World Bank accounts;
$192.0 million – from the placement of foreign currency government bonds.
In addition, Ukraine received $992.0 million in accordance with the agreement between Ukraine and the United Kingdom within the framework of the ERA. These funds were not included in the international reserves of Ukraine due to their limited (targeted) purpose for use.
$517.9 million was paid for servicing and repaying the state debt in foreign currency, of which:
$299.2 million – servicing and repaying foreign currency government bonds;
$169.3 million – servicing and repaying the debt to the World Bank;
$49.4 million – payments to other international creditors.
In addition, Ukraine paid $82.1 million to the International Monetary Fund.
Secondly, the operations of the National Bank in the foreign exchange market of Ukraine. In April, compared to March 2025, the National Bank’s net sale of foreign exchange decreased by 17.1%. According to balance sheet data, the NBU sold $2,208.7 million on the foreign exchange market and bought $17.5 million to reserves.
Third, the revaluation of financial instruments (due to changes in market value and exchange rates). In April, the value of financial instruments increased by $742.5 million due to revaluation. The current volume of international reserves provides financing for 5.6 months of future imports.
