NBU: Ukraine has attracted 353 billion UAH from domestic government bonds since the beginning of the war

Since the beginning of the full-scale war launched by russia until February 28, 2023, Ukraine has raised 238.8 billion UAH, $2.238 billion, and €1.06 billion from the placement of domestic government bonds at auctions. In total, this sum amounts to 353 billion UAH in equivalent. 

This was reported by the NBU.

The regulatory authority clarified that over the same period of time, 234.5 billion UAH, $3.14 billion and €662.6 million had been allocated to repay domestic debt.

The NBU explained that it had allowed banks to cover up to 50% of the total amount of required reserves with benchmark government bonds from the list determined by the NBU, which had been expanded on February 11, 2023.

The Ministry of Finance is raising interest rates on hryvnia domestic government bonds. In particular, while in early October 2022 the maximum interest rate on hryvnia military government bonds was 16% per annum, in February 2023 it rose to 19.75% per annum.

During the martial law period, the Ministry of Finance also raised interest rates on dollar-denominated government bonds (maximum rate of 4.5% per annum) and on euro-denominated military bonds (maximum rate of 3% per annum).