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Russia’s international reserves plummet by $16 billion in February — central bank

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06.03.2015

MOSCOW, March 6. /TASS/ -- Russia’s international reserves mostly comprising gold and foreign currency decreased by $15.987 billion in February to $360.221 billion, according to data released by the Central Bank on Friday.

The Russian regulator said in statements on gold and foreign exchange reserve dynamics in recent weeks that the country’s international reserves had declined largely due to the Central Bank’s operations to provide foreign currency liquidity to banks on a repayable basis, foreign currency repo deals and negative exchange rate revaluation.

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.

Tass

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