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NBU Depository: Ukraine’s Borrowings through Auction to Sell Domestic Debt Instruments Exceed an Equivalent of UAH 167.9 Billion

NBU Depository: Ukraine’s Borrowings through Auction to Sell Domestic Debt Instruments Exceed an Equivalent of UAH 167.9 Billion

According to the NBU Depository, since russia launched its full-scale invasion of Ukraine, the government raised UAH 107,045.4 million, USD 1,399.2 million, and EUR 468.4 million from placement of domestic government debt securities through auctions and allocated UAH 164,994.5 million, USD 2,090.2 million, and EUR 168.0 million for redemption of domestic government debt securities.  

From April through August, the government repaid more than borrowed under internal debt transactions.  Specifically, in October, the net repaid amount was UAH 13,501.9 million. On the other hand, in March and September, the volumes raised to the state budget through auctions to sell domestic government debt securities exceeded the amount redeemed by the government on domestic debt instruments.

Under martial law, the Ministry of Finance raised interest rates on a number of hryvnia securities (maximum yield being 18.5% per annum) and all U.S. dollar domestic government debt securities (maximum yield being 4.5% per annum). Rates on 3-month hryvnia war bonds, as well as on euro domestic government debt securities have not changed yet and make 9.5% and 2.5% per annum, respectively.

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 31 October, primary dealer banks hold the largest portfolio of war bonds.

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

  • UAH 14,250.7 million or 15.1% of the total value of purchased hryvnia-denominated war bonds (UAH 14,747.2 million or 15.7% as of 24 October)
  • USD 232.7 million or 27.2% of the total value of U.S. dollar-denominated war bonds (USD 222.1 million or 26.0% as of 24 October)
  • EUR 148.3 million or 51.9% of the total value of euro-denominated war bonds (EUR 148.2 million or 51.9% as of 24 October).

Nonresidents hold over UAH 1,121.4 million and USD 2 million in domestic government debt securities.  

On 28 October, the Ministry of Finance paid USD 784.6 million to redeem war bonds denominated in foreign currency, which reduced the share of domestic government debt securities in respective portfolios. 

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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