In 2025, the government of Ukraine raised UAH 302,926.3 million, USD 1,462.1 million, and EUR 643.4 million by offering domestic government debt securities at auctions, and allocated UAH 240,615.6 million, USD 1,983.2 million, and EUR 752.5 million towards redemption of domestic government debt securities.
In total, from the onset of russia’s full-scale invasion of Ukraine through 30 September 2025, the government raised UAH 1,354,908.9 million, USD 9,807.5 million, and EUR 3,111.5 million through primary auctions and allocated UAH 915,425.3 million, USD 10,595.5 million, and EUR 2,921.4 million to redeem domestic government debt securities.
In September, the maximum yield on domestic government debt securities offered at auctions was 17.80% per annum for hryvnia-denominated bonds, 4.15% per annum for U.S. dollar-denominated bonds and 3.25% per annum for euro-denominated bonds.
The efficient operation of the domestic debt market is an important prerequisite for ensuring macrofinancial stability and a safeguard against monetary financing of the budget deficit.
In February, the Ministry of Finance of Ukraine was given more flexibility to provide funding to improve the effectiveness of domestic public debt management: The NBU has ensured settlements for the new type of domestic government debt securities placement: through auctions to place domestic government debt securities with simultaneous exchange for outstanding domestic government debt securities of another issue.
Everyone can purchase war bonds now and strengthen the financial resilience of Ukraine.
Find below detailed statistics by NBU Depository on war bonds offered through auctions, as of 1 October 2025.
As before, primary dealers – the banks – hold the largest portfolio of war bonds.
Ukrainians and domestic businesses hold the second-largest portfolio of war bonds. As of 1 October, it comprised:
- UAH 108,237.4 million or 37.4% of the total value of purchased domestic currency-denominated war bonds (UAH 14,465.3 or 37.0% as of 1 September 2025)
- USD 1,582.2 million or 70.3% of the total value of U.S. dollar-denominated war bonds (USD 1,587.4 million or 70.5% as of 1 September 2025)
- EUR 227.2 million or 40.7% of the total value of euro-denominated war bonds (EUR 272.1 million or 42.2% as of 1 September 2025).
Overall, the portfolio of war bonds owned by individuals and legal entities is equivalent to UAH 169.8 billion, according to 1 October 2025 data, 1.2 times up from UAH 141.1 billion as of 1 October 2024.
As of 1 October 2025, nonresidents held UAH 6,289.7 million, USD 14.4 million and EUR 10,0 million in war bonds.
In September 2025, the Ministry of Finance redeemed UAH 18,761.9 million of hryvnia war bonds and USD 350.0 million of U.S. dollar war bonds.
Find out more about the military domestic government debt securities here. The table presents data at amortized face value.
On 22 March 2022, the NBU began to publish weekly statistics of the NBU Depository related to war bond transactions. At the beginning of 2023, the NBU switched to the monthly publication of relevant releases as of the first day of the month. Previous data are available by the tag war bonds.