The gold/foreign exchange reserves of the Central Bank of Russia (CBR) sank to $413.8 billion as of August 24.
Photo: Yury Martyanov
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Russia’s Gold/Fx Reserves Down by $6.4bn in 10 Days
The gold/foreign exchange reserves of the Central Bank of Russia (CBR) sank to $413.8 billion as of August 24, having lost $900 million, or 0.2 percent, vs. the previous value.
As the reserves slid by $5.5 billion a week earlier, the 10-day loss reached $6.4 billion, or 1.5 percent. The drop in reserves for two weeks running has been registered first time in the current year. What’s more, the reserves went down by $500 million as of August 3.
Nowadays, the amount of gold/foreign exchange reserves matches the figures posted a month ago. The reason of such sizeable decline could be aggressive interventions that CBR carries out on domestic market of Russia to prevent ruble depreciation.
China that is the global leader in gold/foreign exchange reserves has more than $1.33 trillion. Japan holds the second position with over $914 billion.
www.kommersant.com
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