Ukrainian government bonds,
reliably boring .

ОВГЗ (Облігації внутрішньої державної позики) are domestic bonds issued by Ukraine's Ministry of Finance to finance the state budget. They are sovereign debt instruments backed by the Ukrainian government.

Yes. Coupon income from ОВГЗ is exempt from Ukrainian personal income tax (ПДФО). Only the military levy (військовий збір) applies to coupon receipts.

The bonds listed here are available in UAH (Ukrainian hryvnia) and USD (US dollars). Currency determines how interest and principal are paid at maturity.

Most bonds listed here pay interest semi-annually — twice per year, every 6 months.

Yield to maturity is the total annual return an investor earns if they buy a bond at its current price and hold it until maturity, assuming all coupon payments are received on schedule.

ISIN (International Securities Identification Number) is a unique 12-character alphanumeric code that identifies a specific security, including each ОВГЗ bond. Ukrainian government bond ISINs typically start with UA.

The bonds listed here are sovereign debt instruments issued by Ukraine's Ministry of Finance (ОВГЗ) and the United States Department of the Treasury. The issuer is the entity legally obligated to pay coupons on schedule and repay the face value at maturity.

A coupon is the annual interest a bond pays the holder, expressed as a percentage of its face value. For example, a 15% coupon on a 1,000 UAH nominal pays 150 UAH per year, typically split across two semi-annual payments.

The maturity date is when the bond expires and the issuer repays the face value (nominal) to the holder. After maturity, no further coupon payments are made.

The face value, or nominal, is the amount the issuer repays per bond unit at maturity. Coupon interest is calculated as a percentage of this nominal value, not of the price you pay on the market.

Retail investors typically buy ОВГЗ through a Ukrainian bank's brokerage app — such as Privat24, monobank Invest, or Sense SuperApp — or through a licensed investment broker. You'll need to open a securities account, complete KYC, and fund it before placing orders. ОВГЗ are sold at primary auctions held by the Ministry of Finance and traded on the secondary market between auctions.

ОВГЗ are sovereign debt — backed by the full credit of the Ukrainian state — and are considered the lowest-credit-risk securities in the domestic market. They still carry sovereign credit risk and, for UAH-denominated issues, currency and inflation risk. Unlike bank deposits, they are not covered by the Deposit Guarantee Fund: bondholders rely on the government's ability to service its debt.

ОВГЗ usually offer higher yields than retail bank deposits and have a friendlier tax regime — coupon income is exempt from personal income tax (only the military levy applies), while bank deposit interest is taxed at the full 18% PIT plus the same military levy. Bank deposits are insured by the Deposit Guarantee Fund up to a statutory limit; ОВГЗ rely on sovereign credit and lock in a fixed coupon for the bond's full term.