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Russia's Foreign Currency, Gold Reserves Hit $594.6 Billion


Fri 31 Mar 2023 | 11:49 PM
Photographer: Alexsey Druginyn/AFP/Getty Images
Photographer: Alexsey Druginyn/AFP/Getty Images
Taarek Refaat

Russia's international reserves of gold and foreign currencies rose to $594.6 billion, according to data from the Russian Central Bank.

The bank said that Russia's international reserves, which include gold and foreign exchange, rose from March 17 to March 24 with an estimated $8.8 billion to $594.6 billion, while it recorded $585.8 billion as of March 17.

During the past year, the reserves increased by 7.5%, and by the current year they reached $598.8 billion.

Reserves reached their highest level ever at $643.2 billion on February 18.

Russia's international reserves consist of gold, foreign exchange, special drawing rights (SDRs), and reserves in the IMF, which are highly liquid foreign assets held by the Central Bank and the Russian government.