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Russian international reserves up $7.537 bln in April totaling $597.911 bln — Central Bank

The regulator noted that foreign exchange reserves in April decreased by 0.55% to $422.015 bln, and the value of monetary gold in reserves increased during the month by 5.94% and amounted to $175.896 bln

MOSCOW, May 8. /TASS/. Russia’s international reserves amounted to $597.911 bln as of May 1, 2024, which is 1.28% (or by $7.537 bln) up in comparison with the beginning of April, the Central Bank said in a statement on Wednesday.

On May 1, 2023, international reserves totaled $595.787 bln.

The regulator noted that foreign exchange reserves in April decreased by 0.55% to $422.015 bln, and the value of monetary gold in reserves increased during the month by 5.94% and amounted to $175.896 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.