Ukraine's intl reserves fall by 5% in Aug to $48.7 bln – NBU
According to preliminary data, Ukraine's international reserves in August decreased by $2.5 billion, or 5%, to $48.7 billion, the National Bank of Ukraine (NBU) reported on Monday.
"This trend was driven by a reduction in the volume of international financial assistance while maintaining the volume of foreign exchange interventions at a level close to July," the regulator noted on its website.
According to published data, net international reserves also decreased by $2.5 billion, or 6.9%, to $33.8 billion in August compared to July.
The share of dollar-denominated assets in international reserves as of September 1, 2026, increased to 69.1% from 64.7% the previous month, while the share of euro-denominated assets decreased to 21.4% from 27%. A year earlier, their shares were 66% and 26.2%, respectively.
At the beginning of September, the share of gold in international reserves increased to 8.3% from 7% the previous month and 6.5% the previous year.
It is noted that $927.3 million was deposited into the government's foreign currency accounts at the National Bank in August, including $894.0 million through World Bank accounts and $33.3 million from other investors.
Additionally, Ukraine received $1.63 billion from the European Union (EU) as part of the defense tranche under the Ukraine Support Loan program. However, due to the targeted nature of the funding, these funds are not directly deposited into international reserves.
At the same time, the Ukrainian government paid $721.8 million for servicing and repaying its foreign currency debt, including $357.9 million for servicing and repaying its debt to the World Bank, $288.7 million for servicing government bonds, $16.9 million for servicing foreign currency government bonds, and $58.3 million for debt to other creditors. In addition, Ukraine repaid $258.2 million to the IMF.
The revaluation of financial instruments in August increased the value of reserves by $752 million.
The National Bank's foreign exchange interventions in August increased slightly compared to July – by 0.5%, or $24.7 million, to $4.82 billion.
"The current volume of international reserves provides funding for 4.0 months of future imports," the National Bank added.
As reported, in its July macroeconomic forecast, the regulator increased its estimate of international reserves at the end of 2026 to $69.7 billion from $64.8 billion, for 2027 to $73.7 billion from $66.5 billion, and for 2028 to $70.0 billion from $61.1 billion.