Ukraine’s international reserves rose by 10.2% in April and totaled $46.68 billion as of May 1, 2025, according to preliminary data from the National Bank of Ukraine (NBU).
“This growth was driven on one hand by significant inflows from international partners, and on the other—by the lowest volume of net foreign currency sales by the NBU since April 2024,” the central bank reported.
According to the NBU, the current level of reserves is the highest since the beginning of Russia’s full-scale invasion of Ukraine. In April alone, Ukraine’s government accounts at the central bank received $6.35 billion in foreign currency. Of this amount, $4.86 billion came from the European Union under the Ukraine Facility and the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative. Another $1.29 billion arrived via the World Bank’s channels from international partners, and $192 million was raised through the placement of foreign currency government bonds (OVDPs).
Additionally, Ukraine received $992 million under an agreement with the United Kingdom within the ERA framework. However, these funds were not counted as part of the international reserves due to their targeted purpose.
Ukraine also made $517.9 million in foreign currency debt service and repayments in April, including $299.2 million for servicing and repaying foreign currency OVDPs. A further $82.1 million was paid to the International Monetary Fund.
In April, the NBU’s net foreign currency sales dropped by 17.1% compared to March. The central bank sold $2.21 billion on the currency market and purchased $17.5 million into reserves.
The value of financial instruments held in reserves increased by $742.5 million in April due to revaluation.
According to the NBU's forecasts, Ukraine’s gold and foreign currency reserves may grow to $58 billion by the end of this year.
