Ukraine’s intl in Oct up by 6.4% to historical maximum of $49.5 bln – NBU

International reserves of Ukraine as of November 1, 2025 amounted to $49.52 billion, which is the highest value for the entire period of independence and 6.4% more than at the beginning of October, the National Bank of Ukraine (NBU) reported on Friday.

"Such dynamics were driven by large inflows from international partners, which exceeded the NBU’s net FX sales and Ukraine’s FX debt repayments," the NBU noted.

According to published data, as of November 1, 2025, the share of US dollar assets in international reserves was 68.3% compared to 64.2% in September and 88.9% on the corresponding date in 2024. At the same time, the share of the euro in October decreased to 23.7% compared to 27.5% in September and 2.4% a year ago. The share of gold in reserves as of November 1 this year was 7.1% compared to 7.2% a month earlier and 6.7% on the same date last year.

According to the statement, nearly $6.4 billion flowed into the government's foreign-currency accounts at the National Bank in October, including $4.7 billion from the EU under the G7's Extraordinary Revenue Acceleration for Ukraine (ERA) initiative, $1.1 billion via World Bank accounts, $0.51 billion from government domestic loan bond placements, and $0.12 billion from the Council of Europe Development Bank.

At the same time, Ukraine paid $611.6 million to service and repay public debt denominated in foreign currency, including $368.9 million on government domestic loan bonds, $199.5 million to the World Bank, $16.1 million to the EIB, $14.7 million to the EBRD, $12.3 million to the EU, and $0.1 million to other creditors. In addition, Ukraine paid the IMF $83.9 million.

On the domestic FX market, the National Bank sold nearly $2.84 billion ($2.29 billion in October) and purchased $0.8 million for reserves ($1.7 million the previous month).

Revaluation of financial instruments in October increased reserve holdings by $126.8 million.

"The current volume of international reserves covers 5.1 months of future imports," the regulator said.

As reported earlier, the NBU updated its international reserve forecast in October: for 2025, reserves are projected at $53.6 billion, down $0.1 billion from the July estimate. The 2026 forecast was raised to $52.2 billion, or $7.5 billion above the previous estimate, and the 2027 forecast to $59.2 billion, an increase of $14 billion. The revisions reflect expectations of higher international financial support.