Russia's international reserves increased to $589.8 billion by October 23 from $585.3 billion on October 16, the country's central bank said in a statement on Thursday
MOSCOW (Pakistan Point News / Sputnik - 29th October, 2020) Russia's international reserves increased to $589.8 billion by October 23 from $585.3 billion on October 16, the country's central bank said in a statement on Thursday.
"As of October 23, international reserves amounted to $589.8 billion, up $4.5 billion, or 0.8 percent, as a result of higher gold prices and positive exchange rate revaluation," the statement says.
Russia's international reserves include foreign assets with highest liquidity held by the Bank of Russia and the government. Reserves include monetary gold, special drawing rights (SDRs), a reserve position in the International Monetary Fund (IMF) and cash in foreign currencies.
Last year, Russia's international reserves increased by 18.3 percent to $554.4 billion as of January 1, 2020.
