International reserves decreased by another 7% — OVDPs and partner aid did not cover currency sales and debt repayments
Kyiv • UNN
As of May 1, 2026, reserves stand at $48.2 billion. The 7.3% decrease was driven by NBU currency interventions and government debt payments.
Ukraine's international reserves stood at $48.2 billion at the beginning of May, decreasing by 7.3% over the month as inflows from foreign currency domestic government bonds and international partners did not offset currency sales and public debt payments, the NBU reported, according to UNN.
As of May 1, 2026, according to preliminary data, Ukraine's international reserves amounted to $48,214.7 million. In April, they decreased by 7.3%
As stated, "this dynamics was driven by the National Bank's currency interventions and the country's debt payments in foreign currency." "These operations exceeded inflows from the placement of foreign currency domestic government bonds and from international partners," the NBU indicated.
Specifically, $377.9 million was received into the government's foreign currency accounts at the NBU in April, including:
- $339.4 million – from the placement of foreign currency domestic government bonds;
- $38.5 million – through World Bank accounts.
In addition, Ukraine received a loan of $1,010.0 million under the agreement between Ukraine and the United Kingdom within the ERA framework. These funds were not credited to Ukraine's international reserves due to their restricted (targeted) purpose of use.
At the same time, $716.6 million was paid for the servicing and repayment of the state debt in foreign currency. Additionally, Ukraine paid $255.3 million to the International Monetary Fund.
The National Bank's net currency sales decreased by 25.1% compared to March. According to the NBU's balance sheet data, it sold $3,576.7 million on the foreign exchange market in April.
Despite the decrease, the volume of international reserves is reportedly sufficient to maintain the stability of the foreign exchange market.