Russian foreign exchange and gold reserves rise by $4.7 billion

Business & Economy July 03, 2014, 17:19

Foreign exchange and gold reserves comprise monetary gold, foreign currency and Special Drawing Rights, which are the International Monetary Fund’s currency

MOSCOW, July 03. /ITAR-TASS/. Russia’s foreign exchange and gold reserves increased by $4.7 billion to $475.8 billion in the period from June 21 through June 27, the central bank said in a statement Thursday.

In 2013, the foreign exchange and gold reserves fell 5% to $510 billion.

Foreign exchange and gold reserves comprise monetary gold, foreign currency and Special Drawing Rights, which are the International Monetary Fund’s currency.

Foreign currency includes the foreign currencies of the central bank and the Finance Ministry in paper money, reverse repo agreements with nonresidents, accounts with foreign banks rated at least A by Fitch and Standard & Poor’s and at least A2 by Moody’s, as well as government or other bonds issued by nonresidents with similar ratings.

Read more on the site →