According to the NBU Depository, in January 2025, the government of Ukraine raised UAH 29,478.9 million from offering domestic government debt securities through auctions and allocated UAH 19,401.8 million and USD 353.3 million for redemption of domestic government debt securities.
In total, from the onset of russia’s full-scale invasion of Ukraine through 31 January 2025, the government raised UAH 1,081,461.5 million, USD 8,345.4 million, and EUR 2,468.0 million through primary auctions and allocated UAH 694,211.5 million, USD 8,965.6 million, and EUR 2,168.9 million to redeem domestic government debt securities.
In January 2024, the maximum yield on domestic government debt securities offered at auctions was 16.70 per annum for hryvnia-denominated bonds. Domestic government debt securities denominated in U.S. dollars and euros were not placed in October.
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. 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 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. According to 1 February 2025 data, this portfolio comprises:
- UAH 92,616.0 million or 28.7% of the total value of purchased hryvnia-denominated war bonds (UAH 92,375.4 million or 27.6% as of 1 January 2025)
- USD 1,527.8 million or 60.4% of the total value of U.S. dollar-denominated war bonds (USD 1,625.1 million or 56.4% as of 1 January)
- EUR 273.5 million or 48.6% of the total value of euro-denominated war bonds (EUR 245.8 million or 43.7% as of 1 January 2025).
Overall, the portfolio of war bonds owned by individuals and legal persons is equivalent to UAH 168.2 billion, according to 1 February 2025 data, up from UAH 92.1 billion as at 1 February 2024, a year-over-year increase of more than 1.8 times.
As of 1 February 2025, nonresidents held UAH 6,628.0 million, USD 30.2 million, and EUR 0.1 million in war bonds.
In January 2025, the Ministry of Finance redeemed UAH 19,401.8 million of hryvnia war bonds and USD 353.3 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