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Russia’s international reserves down by $1.8 billion over week — Central Bank

February 05, 2015, 17:31 UTC+3 MOSCOW

According to the regulator, the reserves declined to $376.3 billion due to negative exchange rate revaluation

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© ITAR-TASS/Valeriy Matytsin

MOSCOW, February 5. /TASS/. Russia’s international reserves mostly comprising gold and foreign currency declined by $1.8 billion in the week of January 23-30 to $376.3 billion, the Central Bank of Russia said on Thursday.

Russia’s international reserves declined by 0.5% over the week largely due to negative exchange rate revaluation, the regulator said.

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.

Russia’s international reserves fell by $124.135 billion or 24.4% in 2014 to $385.46 billion as of January 1, 2015.

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

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