Ukraine's int'l reserves drop 6.7% to $40.15 bln in Feb 2025 - NBU

MOSCOW. March 7 (Interfax) - Ukraine's international reserves declined 6.7%, or by $2.86 billion, in February 2025, standing at $40.15 billion on March 1, Ukrainian media said, citing the statistics provided by the National Bank of Ukraine (NBU).

"This dynamics was driven by the NBU's FX interventions and Ukraine's FX debt repayments. These transactions were only partially offset by funding received from using FX domestic government debt securities, given the lack of inflows from international partners," media outlets quoted the NBU as saying in a statement on its website.

Ukraine's net international reserves also dropped 9.6%, or by $2.71 billion, to $25.61 billion.

In February 2025, the NBU's net foreign currency sales fell 19.4% month-on-month. The bank sold $3.023 billion and acquired only $500,000 to replenish its reserves.

The Ukrainian government's forex accounts at the NBU received $255 million in February 2025 from the placement of FX-denominated bonds, according to the bank.

The government spent a total of $341.6 million on servicing and repaying the FX public debt, including $275.3 million paid to the World Bank, $54.1 million to other international creditors, and $12.2 million to service FX-denominated domestic bonds.

In addition, Ukraine paid $428.9 million to the International Monetary Fund.

The revaluation of financial instruments in February due to changes in their market value and exchange rate fluctuations added $673.4 million to their value, the NBU said.

"The current level of international reserves covers 4.9 months of future imports. Despite the decrease, the international reserves are sufficient to maintain the sustainability of the FX market," the NBU said.