According to the NBU Depository, in January 2026, the government of Ukraine raised UAH 64,005.2 million from offering domestic government debt securities through auctions and allocated UAH 40,869.4 million for redemption of domestic government debt securities.
In total, from the onset of russia’s full-scale invasion of Ukraine through 31 January 2026, Ukraine’s government raised UAH 1,546,120.9 million, USD 10,791.3 million, and EUR 3,247.2 million through primary auctions and allocated UAH 1,036,023.6 million, USD 11,495.3 million, and EUR 2,921.4 million to redeem domestic government debt securities.
Effective operation of the domestic debt market has been achieved through coordinated efforts by the Government and the National Bank of Ukraine.
Specifically, in 2025, 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.
For its part, the government is offering market-based interest rates on domestic government debt securities. In January, the maximum yield on domestic government debt securities offered at auctions was 17.80% per annum for hryvnia-denominated bonds. Domestic government debt securities denominated in U.S. dollars and euros were not placed in January.
Everyone can purchase war bonds now and strengthen the financial resilience of Ukraine.
Below are the NBU Depository’s detailed statistics on war bonds offered through auctions, as of 1 February 2026.
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 February 2026, it comprised:
- UAH 113,898.8 million or 39.4% of the total value of purchased hryvnia-denominated war bonds (UAH 110,839.2 million or 37.4% as of 1 January 2026)
- USD 1,409.1 million or 64.9% of the total value of U.S. dollar-denominated war bonds (USD 1,375.0 million or 63.3% as of 1 January 2026)
- EUR 256.2 million or 37.3% of the total value of euro-denominated war bonds (EUR 250.9 million or 36.6% as of 1 January 2026).
Overall, the portfolio of war bonds owned by individuals and legal entities was equivalent to UAH 187.3 billion, as of 1 February 2026, slightly up from UAH 168.2 billion as of 1 February 2025.
As of 1 February 2026, nonresidents held UAH 5,251.2 million, USD 12.3 million, and EUR 10.0 million in war bonds.
In January 2026, the Ministry of Finance redeemed UAH 18,460.9 million of hryvnia 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.