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Russia’s international reserves drop by $1.7 bln over week — regulator

July 23, 2015, 15:49 UTC+3 MOSCOW

On July 17, they stood at $358.2 billion

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© Artyom Geodakyan/TASS

MOSCOW, July 23. /TASS/. Russia’s international reserves mostly comprising gold and foreign exchange fell by $1.7 billion over the week of July 10-17 to $358.2 billion, the Central Bank of Russia reported on Thursday.

Russia’s international reserves increased by $300 million in the previous week to $359.9 billion as a result of the positive balance of the Central Bank’s operations on the domestic foreign exchange market amid the persisting negative influence of exchange rate and market revaluations on the reserves, 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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