KIEV, Dec. 7 – Ukraine's international reserves shrank by 5.1%, or $1.754 billion, in November, to $32.408 billion, the State Statistics Service reported.

According to the report, Ukraine's international reserves decreased by 6.3% or $2.168 billion, from $34.576 billion in January-November.

As reported, in the middle of May 2011 the reserves hit a historic record high of over $39 billion. In spring 2011, NBU Governor Serhiy Arbuzov said that as of late 2011, international reserves would reach some $40 billion. However, the absence of financing from the International Monetary Fund and the unfavorable situation on foreign markets meant that target was not achieved.