Ukraine’s international reserves near record high, up 7% in a month

As of September 1, 2025, Ukraine's international reserves totaled $46.03 billion, up 7% compared to the previous month, the NBU reported on its website.

This sharp increase is due to Ukraine receiving substantial international aid, primarily from the European Union, which transferred €3.05 billion in loans under the Ukraine Facility (fourth tranche) and €1 billion under the G7 Extraordinary Revenue Acceleration for Ukraine (seventh tranche) on August 22.

Additionally, Ukraine received $1.06 billion through the World Bank and $395 million from government bond sales.

At the same time, Ukraine paid $620 million to service its foreign currency debt and an additional $427 million to service its debt to the International Monetary Fund.

In August, net sales of foreign currency through NBU operations fell 22% month-on-month, to $2.7 billion.

According to the NBU, current international reserves can cover five months of future imports, sufficient to maintain the stability of Ukraine’s foreign exchange market.

• The current level of international reserves is close to the historical high recorded in April. It is supported by external assistance, which is expected to decline in 2026.
• The NBU forecasts international reserves of about $53.7 billion by the end of 2025.