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            Ukraine’s international reserves are “over $28.5bn,” the highest level in eight years​, Bohdan Danylyshyn, head of the Council of the National Bank of Ukraine, wrote on his Facebook page. This would be $3.2bn higher than at the start of 2020, or a 13% increase. He wrote that during this year of the Covid shock, Ukraine’s Central Bank spent up a net $1.1bn to defend the hryvnia.
Ukraine’s gross international reserves underwent no significant changes in November, staying flat at $26.1bn after dropping 1.5% m/m in October, the National Bank of Ukraine (NBU) reported on December 7. The outlays consisted of the redemption of domestic and external state obligations and the NBU’s interventions at Ukraine’s forex, which were offset by new government borrowing in foreign currency. The foreign currency inflow related to the government’s operation in November amounted to $356mn (in the equivalent), including $346mn (in the equivalent) of receipts from the placement of local Eurobonds. At the same time, the total volume of payments related to the redemption and servicing of the state debt in foreign currency amounted to $320mn. This included $43mn channeled to the redemption and servicing of local Eurobonds and $73mn paid to the IMF. The NBU’s net sale of foreign currency at Ukraine’s forex during November amounted to $46mn. The NBU also reported a $78mn increase in the value of its securities portfolio.​ ​As of December 1, Ukraine’s gross reserves amounted to 4.3 months of imports, the NBU said.
  31​ UKRAINE Country Report​ January 2021 ​ ​

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