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Russian international reserves up 1.3% in July to $589 bln — Central Bank

Foreign currency reserves added 1.06%, while the value of monetary gold in reserves gained 2.01%

MOSCOW, August 7. /TASS/. Russia’s international reserves amounted to $589.966 bln as of August 1, 2023, up by 1.3% (or by $7.548 bln) compared with the level as of early July, according to files released by the Central Bank.

Foreign currency reserves added 1.06% in July to $444.183 bln, while the value of monetary gold in reserves gained 2.01% to $145.783 bln.

As of August 1, 2022, the country’s international reserves totaled $576.904 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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Central Bank of Russia

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