KIEV, Dec. 5 – Ukraine's international reserves fell 20.8%, or $2.62 billion, last month to hit $9.97 billion as of December 1, the National Bank of Ukraine said in a report.

The current level is the lowest since December 2004, when the reserves were estimated at $9.715 billion.

"The dynamics of the reserves in November were mainly connected with the need to transfer part of the funds booked by the NBU for NJSC Naftogaz Ukrayiny's payment to OAO Gazprom for natural gas imported in November-December 2014 ($1.45 billion)," and NBU spokesman said.