According to the NBU Depository, in January–June 2025, the government of Ukraine raised UAH 194,794.6 million, USD 647.8 million, and EUR 393.8 million from offering domestic government debt securities through auctions and allocated UAH 190,838.0 million, USD 952.8 million, and EUR 475.7 million for redemption of domestic government debt securities.
In total, from the onset of russia’s full-scale invasion of Ukraine through 30 June 2025, the government raised UAH 1,246,777.2 million, USD 8,993.2 million, and EUR 2,861.9 million through primary auctions and allocated UAH 865,647.7 million, USD 9,565.1 million, and EUR 2,644.6 million to redeem domestic government debt securities.
In June, 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 June.
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.
In February, 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.
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 July 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. As of 1 July 2025, this portfolio comprised:
- UAH 107,343.5 million or 35.6% of the total value of purchased hryvnia-denominated war bonds (UAH 119,400.4 million or 36.2% as of 1 June 2025)
- USD 1,843.2 million or 71.4% of the total value of U.S. dollar-denominated war bonds (USD 1,784.1 million or 69.1% as of 1 June 2025)
- EUR 247.7 million or 52.1% of the total value of euro-denominated war bonds (EUR 227.0 million or 47.7% as of 1 June 2025).
Overall, the portfolio of war bonds owned by individuals and legal persons is equivalent to UAH 196.5 billion, according to 1 July 2025 data, up from UAH 114.2 billion on 1 July 2024, an increase of over 1.7 times.
As of 1 July, nonresidents held UAH 9,600.6 million, USD 7.4 million and EUR million in war bonds.
In June 2025, the Ministry of Finance redeemed UAH 40,603.6 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.