Russia piling up forex reserves ...News

Russia Today - Economy
Russia piling up forex reserves
source : Russia Today ( News ) () 43
The country’s holdings rose by nearly $2 billion in one week, official data shows Russia has continued to boost its foreign currency reserves, despite economic pressure due to Western sanctions. The country’s holdings reached $587.5 billion as of June 16, the Bank of Russia reported this week. According to the regulator’s calculations, the volume of international reserves increased by $1.8 billion in the week since June 9, or 0.3%, largely due to “a positive market revaluation.” In May, reserves decreased by 1.95%, or $11.6 billion, to $584.1 billion, after soaring past $600 billion in April. The stockpile reached

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