Ukraine’s international reserves decreased by 4.5% in July, amounting to $43.0 billion, according to preliminary data from the National Bank of Ukraine (NBU).
As of August 1, 2025, reserves stood at $43,030.8 million. The decline was driven by NBU foreign exchange interventions and the country’s debt repayments in foreign currency.
In July, $2,122.1 million were credited to government accounts at the NBU, including:
- $1,171.0 million from the EU under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA),
- $513.2 million from the IMF under the EFF program,
- $414.0 million from foreign currency government bonds,
- $23.9 million via World Bank accounts.
At the same time, $793 million were paid to service and repay state debt in foreign currency, and $2.6 million were paid to the IMF.
In terms of interventions, the NBU sold $3,457.3 million on the forex market and bought $0.3 million, resulting in a net sale of $3,457.0 million.
Revaluation of financial instruments added $101.5 million to the reserves in July.
The current level of reserves covers 4.7 months of future imports.
