Photo: NBU
Ukraine’s foreign reserves reached a historic high of $42.3 billion as of September 1, showing a remarkable $5 billion increase from early August, according to the National Bank of Ukraine (NBU). This marks a 13.7% growth in just one month, as reported by Reuters.
On August 1, the reserves stood at $37.2 billion, but the sharp rise is attributed to significant inflows from international partners. The NBU stated that these inflows exceeded net foreign currency sales and debt repayments.
In August, Ukraine received €4.2 billion from the European Union’s credit line and $3.9 billion through the World Bank. These funds have bolstered Ukraine’s financial reserves, which heavily rely on Western financial aid to cover social and economic expenses, as the country prioritizes its military efforts.
