The reserves were just €5 million higher than at the end of 2013, and down €2.109 billion from a year earlier.
There was no forex-based government bond issue or redemption in February.
Reserves rose €330 million in January despite redemption of a €1 billion government bond on January 29.
The big twelve-month drop came from a high base, boosted by the issue of $3.25 billion in government bonds in February 2013.
Last year, the international reserves rose to nearly €36 billion between February and May before dipping under €31 billion on the advance repayment of the remainder of Hungary’s 2008 IMF loan in August-September. They ended the year at €33.8 billion, practically the same as the level at the end of 2012.
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