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Russia’s international reserves down 2.2% in January to $585.448 bln — Central Bank

As of February 1, 2023, the country’s international reserves amounted to $597.035 bln

MOSCOW, February 7. /TASS/. Russia’s international reserves amounted to $585.448 bln as of February 1, 2024, a decrease by 2.2% (or by $13.144 bln) compared with the level as of the beginning of January, the Central Bank reported.

Foreign currency reserves decreased by 1.99% in January to $433.931 bln, while the value of monetary gold in reserves fell by 2.79% in the period to $151.516 bln.

As of February 1, 2023, the country’s international reserves amounted to $597.035 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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