In February 2026, Ukraine’s international reserves fell by $2.91 billion, or 5.0%, reaching $54.75 billion as of March 1, ending the growth that had continued since August 2025, the National Bank of Ukraine (NBU) reported on Friday.
“The decrease in reserves in February was driven by NBU foreign exchange interventions and debt payments in foreign currency, which were only partially offset by inflows from international partners and the placement of foreign currency government bonds,” the regulator said on its website.
According to the report, the government’s foreign currency accounts at the NBU received $1 billion in February, including $690.8 million via World Bank accounts under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative and $309.6 million from the placement of foreign currency government bonds.
At the same time, the Ukrainian government paid $804.1 million for servicing and repayment of foreign currency debt, including $472.2 million for servicing and redeeming government bonds and $331.9 million to other creditors. Additionally, Ukraine paid $279.7 million to the International Monetary Fund.
On the foreign exchange market, the NBU sold almost $2.99 billion in February, 0.74 billion less, or 19.8% lower than in January.
Revaluation of financial instruments in February increased the value of reserves by $152.5 million.
“International reserves are now covering 5.7 months of future imports,” the NBU emphasized.
