Ukraine's international reserves have risen to over $49 billion, according to the NBU

Ukraine’s international reserves increased by 4.2% as of the end of October 2026 and stood at $49.07 billion as of November 1. This growth was driven by foreign exchange inflows from international partners, which exceeded the National Bank’s net foreign exchange sales and the country’s debt payments.

“Ukraine’s international reserves as of November 1, 2026, according to preliminary data, amounted to $49,075.8 million. In October, they increased by 4.2% thanks to foreign exchange inflows from international partners, which exceeded the National Bank’s net foreign exchange sales and the country’s debt payments in foreign currency,” the statement said.

The NBU noted that the dynamics of reserves in October were primarily influenced by inflows into government accounts and payments for servicing and repaying public debt.

During the month, $3.69 billion was credited to the government’s foreign currency accounts at the National Bank. Of this amount:

• $3.28 billion came from the European Union;
• $404.6 million came through World Bank accounts.

In addition, Ukraine received $4.6 billion from the European Union as part of a defense tranche under the Ukraine Support Loan program.

The National Bank explained that these funds are not directly credited to Ukraine’s international reserves. However, if the government sells them to the National Bank in exchange for hryvnia, the reserves increase by the corresponding amount.

In October, the government converted all $4.6 billion received under this program into hryvnia.

Throughout October, Ukraine allocated $242.3 million to service and repay its foreign-currency public debt. Of this amount, $197.9 million was paid to the World Bank.

Separately, Ukraine paid $252.8 million to the International Monetary Fund.

Another key factor influencing the level of international reserves was the National Bank’s operations in the foreign exchange market.

According to balance sheet data, in October the NBU:

• sold $6.05 billion on the foreign exchange market;
• purchased $0.4 million;
• carried out a net sale of foreign currency totaling $6.05 billion.

Another factor was the revaluation of financial instruments due to changes in their market value and exchange rates, as well as the impact of other factors. Collectively, this increased Ukraine’s international reserves by $204.4 million in October.

The National Bank concluded that the current level of international reserves is sufficient to finance 4.2 months of Ukraine’s future imports.

This was reported by the National Bank of Ukraine.

As a reminder, Ukraine’s international reserves decreased by 3.2% as of the end of September. As of October 1, they totaled $47.1 billion.

Over the course of the month, Ukraine’s international reserves decreased by 5%.

In August, the NBU transferred nearly ₴298 million to the defense budget.