Hungary's international reserves stood at EUR 33.79bn as of end-December 2013 , down by 2.7%, or EUR 940mn on the month, central bank preliminary data showed. The drop came as other reserve assets fell by 44.1% m/m to EUR 1bn . In addition, foreign currency reserves also edged down by 0.4% m/m to EUR 33.59bn . The stock of the remaining components of Hungary's foreign reserves changed only marginally in November. In annual comparison, the international reserves edged down by 0.3% as of end-December. This reflected 37.6% y/y decline in other reserve assets, 94.5% y/y drop in SDRs, partly offset by 2.6% y/y rise in foreign currency reserves. Some of the major FX transactions in 2013 occurred in August, when the Hungarian government replayed ahead of schedule the remaining EUR 2.2bn on a loan that the country received from the IMF in 2008 and in November (18), when the government issued USD 2bn in 10-year dollar-denominated bonds.
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