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Russia’s international reserves grow over week for first time in 4 months — regulator

March 26, 2015, 17:42 UTC+3 MOSCOW

The reserves grew by $1.2 billion in the week of March 13-20 to $352.9 billion

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© TASS/Sergey Konkov

MOSCOW, March 26. /TASS/. Russia’s international reserves mostly comprising gold and foreign currency grew by $1.2 billion in the week of March 13-20 to $352.9 billion, the Central Bank reported on Thursday.

Russia’s international reserves grew over the past week for the first time since late November 2014 when they had increased to $420.5 billion from $420.4 billion, the regulator said.

Russia’s international reserves increased in the week of March 13-20 mostly as a result of positive exchange rate and market revaluation, the regulator’s press office said.

Russia’s international reserve assets have decreased by $35.6 billion since the start of 2015.

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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