Russia’s international reserves fell by 2.2% in September

The volume of Russia’s international reserves in September decreased by 2.17%, follows from data on the Central Bank website.

As of October 1, the country’s reserves amounted to $569.02 billion, which is $12.63 billion less than as of September 1. Since the beginning of 2023, the figure has decreased by $12.96 billion. Foreign exchange reserves for the month decreased by 1.9% from $436.92 billion to $428.52 billion, and the value of monetary gold in reserves in September decreased by 2.9% from $144 .73 billion to $140.49 billion.

During the week of September 22-29, reserves decreased by $7.6 billion or 1.3%, reported October 5 Central Bank.

International reserves are at the disposal of the Central Bank and the Russian government; they are highly liquid assets. International reserves consist of foreign currency assets, monetary gold, as well as special drawing rights, the reserve position in the IMF and other reserve assets.

The peak volume of international reserves this year occurred at the beginning of February – $597 billion. By the beginning of March, reserves decreased (to $574.2 billion), and then by May 1 they increased to $595.7 billion. In May, reserves decreased to $584.1 billion, and for June – up to $582.4 billion.

Against the backdrop of a special operation in Ukraine, Western countries introduced large-scale sanctions against Russia in 2022, and also froze Russian assets abroad. According to the European Commission, EU countries have confirmed the freezing of more than 200 billion euros of Central Bank assets.

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