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Russia's gold, forex reserves down to 516 bln dlrs on March 29-April 5

April 11, 2013, 15:32 UTC+3
The record level of Russia’s gold and foreign exchange reserves — 598.1 billion dollars was set on August 8, 2008
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MOSCOW, April 11 (Itar-Tass) - Russia's gold and foreign exchange reserves tumbled by 10.7 billion dollars (or by 2.03 percent) from 527.6 billion dollars to 516.9 billion dollars as of March 29-April 5, the External and Public Relations Department of the Central Bank said on Thursday.

The record level of Russia’s gold and foreign exchange reserves — 598.1 billion dollars was set on August 8, 2008.

Foreign exchange and gold reserves are external assets controlled by the monetary authorities and may be used for financing balance-of-payments deficits, for interventions in currency markets affecting the national currency's rates or for similar purposes.

Foreign exchange and gold reserves are highly liquid foreign assets at the disposal of the Bank of Russia and the Russian government on a certain date. They comprise monetary gold, Special Drawing Rights, reserves with the International Monetary Fund, and foreign currency.

 

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