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Russia’s international reserves hit new 5-year low at $388.5 bln as of Dec 26

December 31, 2014, 15:41 UTC+3 MOSCOW

Russia’s international reserves fell by $10.4 billion over a week

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Russian Central Bank

Russian Central Bank

© Pavel Smertin/TASS

MOSCOW, December 31. /TASS/. Russia’s foreign exchange and gold reserves fell 2.6% to $388.5 billion in the period from December 19 through December 26, the central bank said in a statement Wednesday.

In 2013, the foreign exchange and gold reserves fell 5% to $510 billion.

Russia’s international reserves have fallen below the $400 billion mark for the first time since August 2009.

During the crisis of 2008-2009, the country’s international reserves were seen to plummet to as low as $376 billion (mid-March 2009). 

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

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