Ukraine central bank reports that international reserves exceed pre-war volumes at $28bn

The National Bank of Ukraine (NBU) reported that international reserves have exceeded the pre-war volumes, reaching nearly $28 billion.

  • Preliminary data showed that as of 1 December 2022, Ukraine’s international reserves stood at $27,951.4 million. This level exceeds the one before the full-scale war of Russia on Ukraine: in the morning of 24 February 2022, the international reserves amounted to $27,422.2 million.
  • In November, the international reserves increased by 10.7% on the account of rhythmical inflows of international aid against fewer NBU interventions on FX sales and moderate public debt repayments in foreign currency.
  • FX inflows to the government’s accounts with the NBU amounted to USD 4,616.9 million. This included:
    • $2,530.0 million from the EU
    • $1,500.0 million from the US (through the World Bank’s trust fund)
    • $517.8 million from offering FX domestic government debt securities and
    • $69.1 million from international creditors.
  •  International reserves are now covering 3.5 months of future imports, which is sufficient for Ukraine to meet its commitments, and for the government and the NBU to make their current transactions.


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