Ukraine’s Euro Cash Pile Grows With Increased EU Aid Flows

The portion of Ukraine’s foreign reserves held in euros has surged as the European Union ratchets up support for the war-torn nation.

Data from the National Bank of Ukraine shows that while the share of its international holdings denominated in euros remains low, the amount has more than quadrupled since the start of November — reaching 10% in early May. Over the same period, US dollar holdings fell by 6 percentage points to 82.9%, according to the statistics.