Russia's international reserves fell to $562.4 billion by May 8 from $567.3 billion on May 1, the country's central bank said in a statement on Thursday
MOSCOW (Pakistan Point News / Sputnik - 14th May, 2020) Russia's international reserves fell to $562.4 billion by May 8 from $567.3 billion on May 1, the country's central bank said in a statement on Thursday.
"As of May 8, international reserves amounted to $562.4 billion, down $4.9 billion, or 0.9 percent, over the week mainly as a result of lower gold prices and revaluation of assets in reserve currencies against US dollar during the indicated period," 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.
