Ukraine’s international reserves in February, according to preliminary estimates from the National Bank of Ukraine (NBU), decreased by 3.8%, or $1.47 billion, to $37.052 billion.

“This dynamics is due to the NBU’s foreign exchange interventions to maintain exchange rate stability and the country’s debt payments in foreign currency, which were partially offset by receipts from international partners,” the NBU explained on its website on Wednesday.

Among other factors determining the volume of reserves, the NBU named operations in the foreign exchange market: in February, the net sale of foreign currency by the regulator amounted to $1.51 billion, which is 1.4 times less than in the previous month.

The National Bank noted that in February, $1.34 billion was transferred to the account of the Cabinet of Ministers at the NBU, and $1.13 billion was paid for servicing and repaying the public debt.

The central bank also indicated that the current volume of reserves was positively affected by the revaluation of financial instruments, adding $199.5 million.

“The current volume of international reserves provides financing for 4.9 months of future imports,” the regulator stated.

As reported, the NBU in January lowered its forecast for Ukraine's international reserves at the end of 2024 to $40.4 billion from $44.7 billion and to $42.1 billion from $45 billion at the end of 2025.