Financial sector news

As of December 1, 2025, Ukraine's international reserves reached an estimated $54.748 billion, an all-time high since independence, according to the National Bank.

In November alone, reserves grew by 10.6%. This growth was made possible by the largest inflows of financial assistance from international partners since the beginning of the year, which offset the National Bank's net currency sales and the state's external debt payments. The current level of reserves is sufficient to maintain the stability of the currency market.

Three key factors influenced the formation of reserves in November:

1. International inflows and government debt operations:

During the month, $8.1477 billion was received in the government's foreign currency accounts at the NBU, including:

• $6.8897 billion from the EU under the G7 ERA and Ukraine Facility initiatives;
  
  
• USD 810.4 million through World Bank instruments;
  
  
• USD 332.1 million from the placement of government bonds;
  
  
• USD 115.5 million from the Council of Europe Development Bank.
  
• USD 493.0 million was paid for servicing and repaying foreign currency government debt, including:
• USD 370.2 million for servicing and repaying government bonds;
  
  
• USD 65.3 million for servicing and repaying debt to the European Investment Bank;
  
  
• $30.3 million — servicing and repayment of debt to the EBRD;
  
  
• $18.0 million — servicing of debt to the World Bank;
  
• $9.2 million — payments to other creditors.
  
  

In addition, Ukraine paid $282.6 million to the International Monetary Fund.

2. Foreign exchange operations of the National Bank:

The NBU sold $2.7283 billion on the market and bought back $1.3 million. Thus, net currency sales amounted to $2.727 billion, down 3.9% from October.

3. Revaluation of financial instruments:

Due to changes in the market value of assets and exchange rates in November, reserves increased by an additional $581.7 million.
Currently, the current volume of international reserves provides financing for 5.6 months of future imports.