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Russia’s international reserves down by $1.6 billion to $374.7 billion over week

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12.02.2015

MOSCOW, February 12 /TASS/ -- Russia’s international reserves mostly comprising gold and foreign currency declined by $1.6 billion in the week of January 30 - February 6 to $374.7 billion, the Central Bank of Russia said on Thursday.

Russia’s international reserves declined by 0.4% over the week largely due to the regulator’s foreign exchange sale on the domestic currency market and foreign currency liquidity provision on a repayable basis, the Central Bank said in a statement.

Russia’s international reserves are highly liquid foreign assets managed by the Central Bank of Russia. They comprise foreign currency, Special Drawing Rights (SDRs), a reserve position in the International Monetary Fund and monetary gold.

Russia’s international reserves fell by $124.135 billion or 24.4% in 2014 to $385.46 billion as of January 1, 2015.

During the crisis of 2008-2009, the country’s international reserves were seen to plummet to as low as $376 billion (mid-March 2009).

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