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NBU Depository: Ukraine’s Government Borrows an Equivalent of UAH 208.6 Billion through Auctions to Sell Domestic Government Debt Securities

NBU Depository: Ukraine’s Government Borrows an Equivalent of UAH 208.6 Billion through Auctions to Sell Domestic Government Debt Securities

According to the NBU Depository, since russia launched its full-scale invasion of Ukraine, the government raised UAH 128,758.2 million, USD 1,445.9 million, and EUR 922.6 million from placement of domestic government debt securities through auctions and allocated UAH 198,955.2 million, USD 2,090.2 million, and EUR 662.6 million for redemption of domestic government debt securities. 

From April through August, in October, and in early December, the government repaid more than borrowed in the domestic debt market, specifically, by UAH 18,755.0 million in the first week of December. On the other hand, in March, September, and November the government raised larger amount than it spent to redeem domestic debt bonds.

Last week, the Ministry of Finance increased the interest rate on a number of hryvnia domestic government debt securities, with the maximum yield reaching staying at 19.25%  p.a., and on euro war bonds, with the maximum yield reaching 3% p.a. Overall, under martial law, the government also raised interest rates on all U.S. dollar domestic government debt securities (maximum yield being 4.5% p.a.).

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 5 December.

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

The second-large portfolio of war bonds is held by Ukrainians and domestic businesses. It comprises  

  • UAH 16,186.4 million or 17.3% of the total value of purchased hryvnia-denominated war bonds (UAH 12,767.6 million or 14.2% as of 28 November)
  • USD 245.9 million or 27.3% of the total value of U.S. dollar-denominated war bonds (USD 243.7 million or 27.1% as of 28 November)
  • EUR 64.5 million or 14.5% of the total value of euro-denominated war bonds (EUR 103.4 million or 36.2% as of 28 November).

Nonresidents hold over UAH 1,792.0 million and USD 9 million in domestic government debt securities. 

On 1 December 2022, the Ministry of Finance redeemed EUR 494.6 million on euro war bonds.

Find out more about the military domestic government debt securities here. The table presents data at the 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. Previous data are available by tag war bonds

Differences between the amounts raised in auctions to sell war bonds and redemptions on domestic debt instruments are presented in U.S. dollar equivalent at the NBU’s official exchange rates.


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