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Russian international reserves up $12.5 bln in one week to $585.8 bln, says Central Bank

Russia’s international reserves are highly liquid foreign assets available with the Bank of Russia and the Russian government

MOSCOW, March 23. /TASS/. Russia’s international reserves amounted to $585.8 bln as of March 17, 2023, up by 2.2% (or $12.5 bln) in one week, the Central Bank said in a statement on Thursday.

"International reserves amounted to $585.8 bln as of March 17, up by $12.5 bln, or by 2.2%, in one week as a result of positive revaluation," the statement said.

As of March 10, International reserves amounted to $573.3 bln.

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

Following the onset of Moscow’s special military operation in Ukraine Western countries slapped sanctions against the Bank of Russia. Apart from freezing Russia’s gold and foreign currency reserves, all transactions related to management of the regulator’s reserves and assets, as well as transactions with any legal entity, organization or body acting on behalf or at the direction of the Central Bank, were prohibited.

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