Ukraine’s international reserves have reached a record high since the start of Russia’s full-scale invasion: $46.7 billion, up $4.31 billion from the previous month.
This was reported by the National Bank of Ukraine.
In April, international reserves grew by 10.2%. Ukraine has received much money from international partners, and the National Bank has hardly spent its dollar reserves to support the hryvnia – less than ever since April 2024. The government’s foreign currency accounts at the National Bank received $6.35 billion.
Additionally, Ukraine received a $990 million loan from the UK under the ERA, but these funds were not included in the reserves due to their intended purpose.
Currently, Ukraine’s international reserves cover 5.6 months of imports.
The current level of reserves is the highest in Ukraine’s history, but it is not the maximum level when adjusted for inflation. For example, in August 2008, the reserves amounted to $38 billion, equivalent to $55.5 billion in current prices, according to Ukrainian Forbes.
