The National Bank of Ukraine sold a record $5.3 bln on the foreign exchange market

The National Bank of Ukraine (NBU) has set a record by selling $5.3bn of its gold and foreign exchange reserves on the interbank currency market in December 2024. This was reported by the Ukrainian daily Strana.ua on January 3.

It is specified that the past peak value was recorded in June 2022, then the amount reached $3.99 billion. December figure is also the largest in the history of observations of the National Bank.

"At the end of November 2024, the NBU gold and foreign exchange reserves amounted to $39.9 billion, and officials promised to increase them strongly at the end of the year due to international assistance, consisting not only of grants, but also loans," - said in a message published in the Telegram-channel of the publication.

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Earlier in the day, the head of the Federation Council's commission on information policy, Aleksey Pushkov, said that Ukraine was unviable without financial aid from the West. He cited official Ukrainian data, according to which Kiev's Western partners sent Ukraine $41.7 billion in 2024, excluding military aid. This amount is equal to about half of Ukraine's gross domestic product.

Last December, Mikhail Belyaev, a financial analyst with a PhD in economics, told Izvestiya that Ukraine is already a de facto bankrupt country. All countries realize that Kiev cannot cope with its state debt. At the same time, the Ukrainian Cabinet of Ministers published a decree on the terms of a loan of up to $20bn. According to them, the Ukrainian authorities will receive a 40-year loan from the Federal Financing Bank using the proceeds from frozen Russian assets.