Ukraine's international reserves reached $51.2 billion
Ukraine’s international reserves decreased by 0.1% as of the end of July 2026. As of August 1, they stood at 51.2 billion U.S. dollars.
According to the National Bank of Ukraine, the change in reserves was insignificant and did not affect their overall level.
"Ukraine’s international reserves as of August 1, 2026, according to preliminary data, amounted to US$51,198.9 million. In July, they decreased by 0.1%. This trend was driven by the National Bank’s foreign exchange interventions and the country’s debt payments in foreign currency. These operations slightly exceeded inflows from international partners, the placement of foreign currency bonds, and the conversion into hryvnia of foreign currency received under the Ukraine Support Loan program," the statement said.
Overall, the trend in reserves in July 2026 was driven by a number of factors, primarily the National Bank’s operations in Ukraine’s foreign exchange market.
Specifically, in July, the NBU sold $4.76 billion on the foreign exchange market and purchased $1.8 million. Net foreign exchange sales totaled $4.765 million.
The second factor was receipts in favor of the government and payments for servicing and repaying public debt.
In July, the government’s foreign currency accounts at the National Bank received $1.64 billion, including $683.3 million from the IMF; $498.7 million through World Bank accounts; and $458.6 million from the placement of foreign currency-denominated government bonds.
In addition, Ukraine received $5.1 billion from the European Union as part of a defense tranche under the Ukraine Support Loan program.
As explained by the NBU, these funds are not included in Ukraine’s international reserves due to their designated purpose. However, if the government sells them to the National Bank for hryvnia for further use as intended, international reserves will increase by the corresponding amount.
In July, the government converted $3.43 billion of these funds into hryvnia, which contributed to an increase in international reserves.
A total of $515.4 million was paid for the servicing and repayment of foreign-currency government debt. In particular, Ukraine paid $174.2 million to the International Monetary Fund.
A third factor was the revaluation of financial instruments (resulting from changes in market value and exchange rates). As a result, international reserves increased by $300.6 million.
The current level of international reserves is sufficient to finance 4.2 months of future imports, the NBU concluded.
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