MOSCOW (Pakistan Point News / Sputnik - 07th August, 2023) Russia's gold and foreign Currency reserves dropped by $11.6 billion to $584.2 billion in May 2023 and ranked fifth after being replaced by India, an analysis of the central banks' data conducted by Sputnik showed on Monday.
In the summer of 2021, India took the fourth place in the world in terms of international reserves, but already in 2022 it was ousted by Russia. The latter's international reserves, including those frozen by the Western countries, stood at $540 billion then, while India's reserves were estimated at $532 billion.
In May 2023, China topped the gold and foreign currency reserves global rating with $3.371 trillion, while Japan took the second place ($1.254 trillion) and Switzerland ranked the third ($886 billion).
Saudi Arabia ($442.2 billion), Hong Kong ($421 billion), South Korea ($420.9 billion), Brazil ($343.5 billion) and Singapore ($325.7 billion) were also listed in the top-10 international reserves rating as of late May, according to the statistics.
The analysis is based on information from 100 national central banks that have published data on their international reserves as of May.
