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NBU Depository: Since Full-Scale Invasion, Ukraine’s Government Borrows an Equivalent of UAH 498 Billion through Auctions to Sell Domestic Government Debt Securities

NBU Depository: Since Full-Scale Invasion, Ukraine’s Government Borrows an Equivalent of UAH 498 Billion through Auctions to Sell Domestic Government Debt Securities

According to the NBU Depository, from russia’s launch of its full-scale invasion of Ukraine through 31 May 2023, the government raised UAH 318,620.3 million, USD 3,573.2 million, and EUR 1,482.2 million from placement of domestic government debt securities through auctions, and allocated UAH 318,126.0 million, USD 4,125.0 million, and EUR 1,049.6 million for redemption of domestic government debt securities.

In May 2023, the Ministry of Finance borrowed in the domestic debt market UAH 16,427.02 million more (in equivalent) than it used for redemption of domestic government debt securities. Overall, in January-May 2023, net borrowings made UAH 77,458.3 million.

The maximum yield on war bonds issued in May was 18.50% per annum for hryvnia-denominated bonds, 4.85% per annum for U.S. dollar-denominated bonds, and 3.25% per annum for euro-denominated bonds.

Today, everyone can purchase war bonds and strengthen the financial defense of Ukraine.

Find below detailed statistics by NBU Depository on war bonds offered through auctions, as of 1 June 2023.

As before, primary dealers – the banks – hold the largest portfolio of war bonds.

The second-largest portfolio of war bonds is held by Ukrainians and domestic businesses. In May, it comprised:  

  • UAH 26,510.4 million or 37.5% of the total value of purchased hryvnia-denominated war bonds (UAH 24,586.1 million or 35.4% as of 1 May)
  • USD 809.8 million or 42.2% of the total value of U.S. dollar-denominated war bonds (USD 710.1 million or 39.3% as of 1 May)
  • EUR 74.1 million or 11.8% of the total value of euro-denominated war bonds (EUR 50.0 million or 8.5% as of 1 May).  

Nonresidents hold over UAH 9,043.2 million and USD 22.6 million in war bonds.

In May, the Ministry of Finance redeemed UAH 7,155.0 million of hryvnia war bonds, USD 312.3 million of U.S. dollar war bonds, and EUR 387.0 million of euro war bonds. 

Find out more about the military domestic government debt securities here. The table presents data at amortized face value.

For reference

On 22 March 2022, the NBU began to publish weekly statistics of the NBU Depository related to war bond transactions. In the beginning of 2023, the NBU switched to monthly publication of relevant releases as of the first day of the month. Previous data are available by tag war bonds

 

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