Ukraine’s international reserves decreased in February 2026 by $2.91 billion, or 5.0%, reaching nearly $54.8 billion as of March 1. This was reported by the National Bank of Ukraine.
“According to preliminary data, Ukraine’s international reserves as of March 1, 2026 amounted to $54,753.4 million. In February they decreased by 5.0%. This dynamic was driven by the NBU’s foreign exchange interventions and the country’s debt payments in foreign currency. These operations were only partially offset by inflows from international partners and from the placement of foreign-currency domestic government bonds,” the statement said.
Despite the decline, the regulator noted that the current level of reserves remains sufficient to maintain the stability of the foreign exchange market.
Overall, several factors influenced the reserves’ dynamics in February. In particular, $1 billion was credited to the government’s foreign currency accounts at the National Bank, including $690.8 million through World Bank accounts under the Extraordinary Revenue Acceleration for Ukraine initiative of the Group of Seven, and $309.6 million from the placement of foreign-currency domestic government bonds.
At the same time, the government of Ukraine paid $804.1 million for servicing and repaying public debt in foreign currency, including $472.2 million for servicing and redeeming domestic government bonds and $331.9 million to other creditors. In addition, Ukraine paid $279.7 million to the International Monetary Fund.
On Ukraine’s foreign exchange market in February, the National Bank sold nearly $2.99 billion, which is $0.74 billion, or 19.8%, less than in January.
The revaluation of financial instruments in February increased the value of reserves by $152.5 million.
“The current level of international reserves is sufficient to cover 5.7 months of future imports,” the National Bank concluded.
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