National Bank of Ukraine reports international reserves fell 4.5% to USD 43.0 billion in July

The National Bank of Ukraine published preliminary data showing that Ukraine’s international reserves stood at USD 43,030.8 million as of 1 August 2025, down 4.5% over July. The decline was mainly driven by the NBU’s foreign exchange interventions and foreign currency public debt servicing and repayments, only partly offset by external partner funding and inflows from the placement of foreign currency domestic government debt securities. In July, the NBU was a net seller of USD 3,457.0 million in the FX market, selling USD 3,457.3 million and buying USD 0.3 million. USD 2,122.1 million entered the government’s FX accounts at the NBU, including USD 1,171.0 million from the European Union under the G7 Extraordinary Revenue Acceleration for Ukraine initiative, USD 513.2 million from the IMF under the Extended Fund Facility program, USD 414.0 million from the placement of domestic government debt securities, and USD 23.9 million via World Bank accounts. FX public debt servicing and repayment totalled USD 793.0 million, comprising USD 638.5 million for servicing and redemption of FX domestic government debt securities, USD 85.1 million for Eurobonds, USD 61.2 million for World Bank debt, USD 7.1 million for EU debt, and USD 1.1 million to other creditors, alongside an additional USD 2.6 million repayment to the IMF. Revaluation gains added USD 101.5 million. The NBU reported that reserves cover 4.7 months of future imports and reiterated that international reserves and FX liquidity data are published monthly, with preliminary data released no later than the seventh day after month-end and revised data no later than the 21st day.