According to preliminary data, the stock of international reserves stood at USD 20.416 billion as of January 1, 2014.

The increase in the international reserves was mainly due to the proceeds arising from the placement of external sovereign bonds (USD 3 billion in the equivalent) and domestic sovereign bonds (USD 806 million in the equivalent).

The Government of Ukraine repaid USD 1.321 billion in external and domestic debt obligations and the National Bank of Ukraine conducted the foreign currency interventions during the month in order to smooth fluctuations in the hryvnia exchange rate, which had implications for the amount of international reserves.