Ukraine's international reserves have fallen to just over $51 billion
As of early August 2026, Ukraine’s international reserves stood at $51.19 billion. By the end of July, they had decreased by 0.1%, or approximately $80 million.
At the same time, on a year-over-year basis, Ukraine’s international reserves rose by 19%.
For comparison, as of August 1, 2025, reserves stood at $43.03 billion.
The main pressure on international reserves during July came from the NBU’s foreign exchange interventions and payments on Ukraine’s external obligations.
During the month, the National Bank:
- sold $4.75 billion on the foreign exchange market;
- purchased only $1.8 million.
Thus, the NBU’s net foreign exchange sales amounted to approximately $4.75 billion.
In July, Ukraine allocated $515.4 million to service and repay its foreign-currency government debt.
Of this amount:
- $433.3 million went toward servicing and repaying foreign-currency government bonds;
- $58.7 million – fulfillment of obligations to the World Bank;
- $6.9 million – payments to the European Union;
- $16.5 million went toward payments to other creditors.
Separately, Ukraine paid $174.2 million to the International Monetary Fund.
At the same time, Ukraine received significant foreign currency inflows in July.
Specifically:
- $683.3 million – from the IMF;
- $498.7 million – through World Bank accounts;
- $458.6 million – from the placement of foreign currency 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.
Due to their designated purpose, these funds are not directly credited to international reserves.
Another factor supporting reserves was the government’s conversion of foreign currency received into hryvnia to finance related expenditures.
In July, $3.43 billion was converted in this manner, which helped maintain the level of Ukraine’s international reserves.
According to the National Bank of Ukraine’s assessment, the current level of international reserves is sufficient to finance 4.2 months of future imports.
Thus, despite a slight decline in July, Ukraine’s foreign exchange “buffer” remains above $51 billion and has grown by nearly one-fifth over the past year.
This was reported by the National Bank of Ukraine.
