Russia's gold and currency reserves rise to $618.2 billion

Russia's international gold and foreign exchange reserves rose to more than $618.2 billion, according to data from the Russian Central Bank.

According to the bank’s data, Russia’s international reserves, which include gold and foreign exchange, reached a record high on September 1 at a level of $618.2 billion, compared to $601.003 billion recorded a month ago on August 1, 2021, an increase of $17.180 billion within one month.

Prior to that, Russia’s international reserves rose to historical levels from August 20 to 27 last by 3.4 percent, achieving an increase of $ 20 billion within a week to reach $ 615.6 billion, and in recent years, the share of gold in the Russian reserve has increased significantly from 7.8 % at the beginning of 2014 to 23.3% at the end of 2020.

Russia's international reserves consist of gold, foreign exchange, special drawing rights, and reserves in the International Monetary Fund, which are highly liquid foreign assets held by the Russian central bank and government.

Russia is now one of the five leading countries in terms of international reserves, ranking fifth after China, Japan, Switzerland and India.

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