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Russia's international reserves fall by $11.9 bln over week to $620.8 bln

As of November 1, the volume of reserves amounted to $632.7 bln

MOSCOW, November 14. /TASS/. Russia's international reserves amounted to $620.8 bln as of November 8, 2024, having decreased by $11.9 bln over the past week, the Bank of Russia said.

"International reserves stood at $620.8 bln at the end of the day on November 8, 2024, having declined by $11.9 bln, or 1.9%, over the week, mainly due to negative revaluation," the report said.

As of November 1, the volume of reserves amounted to $632.7 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. After the start of the Russian special operation in Ukraine, Western countries imposed sanctions against the Bank of Russia. In addition to freezing the gold and foreign exchange reserves of Russia, all operations related to the management of the Bank of Russia's reserves and assets, as well as operations with any legal entities acting on behalf of or at the direction of the Bank of Russia, were banned.

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