Ukraine’s international reserves face setback

Ukraine's international reserves decreased by 6.7% in February 2025 and amounted to $40.145 billion as of March 1.

That’s according to the National Bank of Ukraine (NBU), CE Report quotes Ukrinform.

“Preliminary data show that, as of 1 March 2025, Ukraine’s international reserves amounted to USD 40,145.5 million. In February, international reserves decreased by 6.7%,” the report says.

The NBU has identified two primary factors contributing to the change in the volume of reserves: FX market interventions and public debt repayments.

In February 2025, the NBU’s net FX sales decreased by 19.4% month-on-month. The NBU sold $3,022.6 million on the FX market and bought $0.5 million to replenish the reserves.

In February, $255.0 million came into the government’s FX accounts from issuing of FX domestic government debt securities. The government spent a total of $341.6 million on servicing and repaying the FX public debt including $275.3 million to repay the debt to the World Bank, and $12.2 million to service FX domestic government debt securities. Ukraine also repaid $428.9 million to the International Monetary Fund.

In addition, in February, financial instruments increased in value by $673.4 million due to revaluation.

The NBU stressed that despite the decline, the volume of international reserves is sufficient to maintain the stability of the FX market and provides financing for 4.9 months of future imports.