KIEV, Jan. 6 – Ukraine's international reserves fell by 1.9%, or $614 million in December, to $31.795 billion, the National Bank of Ukraine reported.

According to the central bank, in 2011, the country's reserves shrank by 8%, or $2.781 billion.

As reported, in the middle of May 2011, international 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.