National Bank of Ukraine reports international reserves reached a record USD 57.3 billion and rose 30.8% in 2025

The National Bank of Ukraine (NBU) published preliminary data showing Ukraine’s international reserves stood at USD 57.3 billion (USD 57,292.5 million) as of 1 January 2026, the highest level in the country’s independent history. Reserves rose 4.6% in December and increased 30.8% across 2025, with December gains mainly reflecting official inflows that exceeded the NBU’s net foreign exchange (FX) sales and foreign currency debt repayments. Reserves were reported to cover 5.9 months of future imports. In December, USD 6.9 billion flowed into the government’s FX accounts with the NBU, including USD 3.9 billion via World Bank accounts and USD 2.7 billion from the European Union under the Ukraine Facility instrument, alongside USD 303.8 million from domestic government debt securities placements. FX public debt servicing and repayments totalled USD 668.4 million, with a further USD 171.4 million repaid to the International Monetary Fund. The NBU conducted net FX sales of USD 4.7 billion in December, selling USD 4.7 billion and buying USD 0.5 million, while revaluation of financial instruments added USD 1.2 billion. For 2025, the NBU reported USD 52.4 billion of international financial assistance, led by the European Union (USD 32.7 billion) and the World Bank (USD 13.2 billion), and over USD 3.3 billion raised from placement of FX domestic government debt securities, with USD 2.0 million received under the UK agreement as part of the ERA initiative excluded from reserves due to restricted use. The NBU Governor stated that Ukraine expects to receive over USD 45 billion from international partners in 2026. The central bank also reiterated that international reserves and FX liquidity data are released monthly, with preliminary data no later than the seventh day after month-end and revised data no later than the twenty-first day after month-end.