Russia’s international reserves have reached a maximum of $639.6 billion

by time news

Russia’s international reserves increased by $1.4 billion, or 0.2%, over the week. The indicator reached a historic high of $639.6 billion. The Central Bank explained the growth by operations for the purchase of foreign currency “within the framework of the budget rule, partially offset by negative revaluation.”

International (gold and foreign exchange) reserves consist of highly liquid foreign assets at the disposal of the Central Bank and the government. These include monetary gold, special drawing rights, reserve positions in the IMF and foreign currencies. The target level of the Central Bank on international reserves is $500 billion.

The last time the volume of international reserves reached a historical maximum on January 14. Then the figure increased to $638.2 billion “as a result of a positive revaluation and the purchase of foreign currency under the budget rule.”

About the gold and foreign exchange reserves of Russia – in the material “Kommersant” “The Central Bank changes dollars to euros.”

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