Russia’s forex reserves surging ...News

Russia Today - Economy
Russia’s forex reserves surging
source : Russia Today ( News ) () 51
Holdings grew by $5.5 billion in just one week, official data shows Russia’s foreign currency reserves have continued to grow, surpassing $593 billion as of December 22, the country’s central bank has reported.  Statistics show the volume of international reserves increased by $5.5 billion, or 0.9%, in the week from December 15, largely due to “a positive market revaluation.”  The stockpile reached a historic high of $643.2 billion on February 18, 2022. However, roughly half of Russia’s foreign currency reserves were frozen by Western central banks last March as part of Ukraine-related sanctions. In addition to fr

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