As of 1 August, Ukraine’s international reserves stood at nearly $51.2 billion, down 0.1% over the month.
The National Bank reported this.
This trend was driven by the NBU’s foreign-exchange interventions and public debt payments. These outlays slightly exceeded inflows from international partners and the sale of foreign-currency bonds. The current level of reserves covers 4.2 months of future imports, helping maintain the resilience of the foreign-exchange market.
In July, the National Bank sold $4.75 billion on the market and bought only $1.8 million. At the same time, more than $1.6 billion was credited to the government’s foreign-currency accounts. Of that amount, the IMF provided $683.3 million, $498.7 million was raised through the World Bank, and another $458.6 million came from the placement of foreign-currency domestic government bonds.
Separately, the EU provided $5.1 billion as part of a defense tranche under the Ukraine Support Loan program. These funds are earmarked and are not credited to reserves directly. However, the government converted $3.43 billion of this amount into hryvnia through the NBU, which additionally boosted international reserves.
Ukraine allocated $515.4 million to service and repay public debt in foreign currency, with most of the funds going to payments on domestic government bonds. The state also paid $174.2 million to the International Monetary Fund.
In addition, reserves increased by $300.6 million due to the revaluation of financial instruments and changes in exchange rates.