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NBU Depository: Ukraine’s Borrowings through Auction to Sell Domestic Debt Instruments Exceed an Equivalent of UAH 187.5 Billion

NBU Depository: Ukraine’s Borrowings through Auction to Sell Domestic Debt Instruments Exceed an Equivalent of UAH 187.5 Billion

According to the NBU Depository, since russia launched its full-scale invasion of Ukraine, the government raised UAH 124,923.8 million, USD 1,445.9 million, and EUR 468.4 million from placement of domestic government debt securities through auctions and allocated UAH 198,955.2 million, USD 2,090.2 million, and EUR 168.0 million for redemption of domestic government debt securities. 

From April through August, in October, and from the start of November to date, the government repaid more than borrowed under internal debt transactions. Specifically, in the first four weeks of November, the net repaid amount was UAH 14,374.1 million. 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. 

Last week, the Ministry of Finance raised the interest rate on a number of hryvnia domestic government debt securities, with the maximum yield reaching 19.25% p.a. Overall, under martial law, the Ministry of Finance also raised interest rates on all U.S. dollar domestic government debt securities (maximum yield being 4.5% p.a.). However, rates on euro war bonds have not changed yet and make 2.5% 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 28 November.

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 12,767.6 million or 14.2% of the total value of purchased hryvnia-denominated war bonds (UAH 11,701.6 million or 14.2% as of 21 November)
  • USD 243.7 million or 27.1% of the total value of U.S. dollar-denominated war bonds (USD 243.0 million or 27.0% as of 21 November)
  • EUR 103.4 million or 36.2% of the total value of euro-denominated war bonds (EUR 151.2 million or 52.9% as of 21 October).

Nonresidents hold over UAH 1,299.3 million and USD 9 million in domestic government debt securities.  

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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Outstanding Military Domestic Government Debt Securities and the Number of Holders as of 28 November 2022
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