The volume of international reserves of Russia increased by 0.7% in the week of November 5-12, by $ 4.1 billion. The indicator again renewed a historical record and reached $ 626.2 billion. The Central Bank explains the increase in international reserves “by the impact of a positive revaluation”, as well as ” foreign currency within the framework of the budgetary rule ”.
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 position in the IMF and foreign exchange. The target level of the Central Bank for international reserves is $ 500 billion.
Since the beginning of 2021, the volume of international reserves has grown by 4.8%. In 2020, the growth was 7.5%. By the beginning of 2021, the volume of international reserves was $ 595.8 billion.
The Accounts Chamber claims that Russia ranks fifth in the world in terms of international reserves. In September, the Bank of Russia published the results of comparing international reserves of 70 countries for 2020. The absolute volume of reserves in most countries (55 out of 70) increased. In the list of developed countries, Lithuania, Australia, New Zealand, Iceland were the exception.
Read more about the Central Bank’s report – in the publication of Kommersant, “The pandemic regrouped reserves.”
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