Hexakis(2,3,6-tri-O-nitro)-alpha-cyclodextrin and heptakis(2,3,6-tri-O-nitro)-beta-cyclodextrin were prepared and the complete assignment of the H-1, C-13 and N-15 resonance signals in each case was achieved using homonuclear shift correlation experiments, one-bond C-13-H-1 and three-bond N-15-O-C-H-1 heteronuclear shift correlation measurements. The denitration of these cyclodextrin nitrates by hydroxylamine in pyridine was investigated to study its selectivity in preparing partially nitrated derivatives of these cyclodextrins. The sites of denitration were determined in each case using C-13 and N-15 NMR and the products were completely characterized. The results indicate that denitration of these cyclodextrin nitrates is a highly regiospecific reaction occurring at the 2-position only and giving rise to hexakis(3,6-di-O-nitro)-alpha-cyclodextrin and heptakis(3,6-di-O-nitro)-beta-cyclodextrin, respectively.