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Russia’s international reserves down $4.2 bln in one week to $590.1 bln — Central Bank

The regulator said that the reserves decreased "due to negative revaluation and transactions carried out by the Bank of Russia within the framework of the fiscal rule"

MOSCOW, March 28. /TASS/. Russia’s international reserves amounted to $590.1 bln as of March 22, 2024, having decreased by $4.2 bln in one week, the Central Bank reported.

"International reserves amounted to $590.1 bln as of March 22, 2024, having decreased by $4.2 bln, or by 0.7%, in one week due to negative revaluation and transactions carried out by the Bank of Russia within the framework of the fiscal rule," the regulator said.

As of March 15, the country’s international reserves amounted to $594.3 bln.

Russia’s international reserves are highly liquid foreign assets available with the Bank of Russia and the Russian government. They comprise foreign currency, Special Drawing Rights (SDRs), a reserve position in the International Monetary Fund and monetary gold.

Following the onset of Moscow’s special military operation in Ukraine Western countries slapped sanctions against the Bank of Russia. Apart from freezing Russia’s gold and foreign currency reserves, all transactions related to management of the regulator’s reserves and assets, as well as transactions with any legal entity, organization or body acting on behalf or at the direction of the Central Bank, were prohibited.

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Central Bank of Russia

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