In September, the National Bank of Ukraine sold approximately $5.5 billion on the foreign exchange market, marking the largest volume of interventions in the last 12 months. As of the end of last month, the state's gross international reserves amounted to approximately $47 billion. This was reported by Minfin, according to the portal PromPolitInform.
The dynamics of the regulator’s interventions show a gradual increase compared to the previous year. Specifically, in October and November 2025, the monthly volume of currency sales was about $2.9 billion, and in December it increased to $4.5 billion. In the summer months of 2026, the figures were also high: $5.1 billion in June, and $4.8 billion each in July and August.
Interbank market operations
The volume of transactions in the non-cash market in September reached $9.2 billion from bank clients purchasing currency, while the volume of sales amounted to approximately $5 billion. The total turnover of operations between financial institutions, including the regulator, reached $9.6 billion, which is the peak value for the corresponding period. During this time, the population also showed higher demand for foreign currency, buying $0.9 billion more than they sold.
State of international reserves
Despite significant interventions, the volume of gross reserves in September remained at the level of $47 billion, which is comparable to the figures from a year ago. It is worth noting that at the beginning of 2026, reserves exceeded $57 billion, although in the spring there was a decline to a minimum of $45.5 billion in May. Net international reserves also decreased during the reporting period: from $44 billion in January to $32.5 billion in September.
Official foreign currency exchange rates
The value of the dollar has remained stable since June 2026, holding within the range of 44.5–45 hryvnias. For comparison, in the autumn of 2025, the US currency cost about 41.7 hryvnias. As of October 19, 2026, the official dollar exchange rate was set at 44.8625 hryvnias, and the euro at 50.4977 hryvnias. The euro showed higher figures in August, approaching 52 hryvnias, but the European currency exchange rate has decreased over the last few months.
Photo: bank.gov.ua
