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Russian international reserves down $6.3 bln in one week to $579 bln, says Central Bank

As of August 11, the country’s international reserves amounted to $585.8 bln

MOSCOW, August 24. /TASS/. Russia’s international reserves lost $6.3 bln in one week and totaled $579.5 bln as of August 18, 2023, the Central Bank reported on Thursday.

"International reserves amounted to $579.5 bln as of August 18, down by $6.3 bln, or by 1.1%, in one week mainly as a result of negative revaluation," the report said.

As of August 11, the country’s international reserves amounted to $585.8 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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