Russia's international reserves returned to growth

the Volume of international reserves of the Russian Federation increased from 8 to 15 may 2020 for $500 million to $562,9 billion, follows from materials of Bank of Russia.

a Week earlier, the reserves fell by $4.9 billion to $2.5 billion, even earlier — increased by $100 million.

As explained by the regulator, the reserves added, “as a result of higher gold prices, partially offset by the sale of foreign currency on the domestic foreign exchange market.”

Recall that on January 1, 2020, the reserves reached $554,359 billion, adding over the past year of 18.3%, or $85,864 billion, from $468,495 billion on January 1, 2019.

the International reserves are highly liquid foreign assets available to the Bank of Russia and the government of the Russian Federation. They consist of foreign exchange reserves, monetary gold, and drawing rights (SDRs), reserve position in IMF and other reserve assets.

a Historic low on reserves was recorded April 2, 1999 ($10.7 billion), the absolute maximum was achieved on 8 August 2008 ($598.1 billion).

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