MOSCOW, August 7. /TASS/. Russia’s international reserves of as of August 1, 2024, amounted to $602.05 bln, having increased by $8.552 bln ($1.44%) since the beginning of July, according to the Bank of Russia.

As of August 1, 2023, the volume of reserves amounted to $589.966 bln.

The regulator noted that foreign exchange reserves increased by 0.83% in July to $422.457 billion, while the value of monetary gold in reserves increased by 2.9% over the month to $179.593 billion.

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.