Russia continues to stockpile forex reserves ...News

Russia Today - Economy
Russia continues to stockpile forex reserves
source : Russia Today ( News ) () 57
The country’s gold and foreign currency holdings keep growing Russia’s international holdings have reached $580.6 billion as of August 12, according to data published by the country’s central bank on Thursday. Moscow has been boosting its reserves as a shield against sanctions. The central bank regularly publishes updates on its reserves with a one-week lag. International reserves consist of foreign-currency funds, special drawing rights with the IMF and monetary gold. Total reserves surged by $5.8 billion from the previous week, the regulator said, noting that the 1% rise was due to a positive market revaluation.

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