Ukraine's intl reserves up 1.2% in June, euro share rises to 13.9% – National Bank

Ukraine's international reserves increased by $0.52 billion, or 1.2%, in June, reaching $45.07 billion as of July 1, according to preliminary data released by the National Bank of Ukraine (NBU) on Monday.

"Such dynamics were driven by large inflows from international partners, which exceeded the NBU's net FX sales and Ukraine's FX debt repayments. International reserves are sufficient for maintaining the FX market sustainability," the NBU said on its website.

According to the published data, the share of U.S. dollar-denominated assets in the reserves declined to 77.9% as of July 1 from 82.7% a month earlier and 86.8% a year ago. Meanwhile, the share of euro-denominated assets increased to 13.9%, up from 10.1% in early June and 6.6% as of July 1 last year.

Gold made up 6.4% of the reserves as of mid-2025, compared to 6.5% in the previous month and 5.3% a year earlier.

The central bank also reported that net international reserves rose by $0.76 billion, or 2.6%, in June to $30.74 billion.

In June, $4.09 billion was credited to the government's foreign currency accounts under the G7 Extraordinary Revenue Acceleration (ERA) initiative using frozen Russian assets. This included $1.69 billion from Canada, $1.25 billion channeled via World Bank accounts from the United States, and $1.15 billion from the European Union.

At the same time, the government made $0.52 billion in foreign currency payments to service and repay public debt, along with an additional $0.43 billion to the International Monetary Fund (IMF).

On the foreign exchange market, the NBU sold $2.96 billion in June and bought back only $1.3 million for reserves.

A further $0.34 billion in reserve growth came from the revaluation of financial instruments due to changes in market prices and exchange rates, as the U.S. dollar weakened notably against other currencies during the month.

"International reserves are now covering 5.6 months of future imports," the central bank said.

As reported, in April the NBU raised its forecast for international reserves at the end of this year from $40.5 billion to $57.6 billion, citing anticipated inflows under the ERA financing mechanism.