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Russia’s foreign exchange reserves increase by $1.8 billion in one week

Forex reserves totaled $595.6 billion compared to $593.8 billion a week earlier.

Russia’s international reserves are highly liquid foreign assets consisting of monetary gold, foreign currencies and Special Drawing Rights, which are at the disposal of the Central Bank of Russia and the government.

The latest growth is reportedly attributed to the planned purchases of foreign currencies and a positive market re-assessment.

In 2020, the country’s gold and foreign currency holdings grew by 7.5% and totaled $595.8 billion as of January 1, 2021. At the end of May, they reached an all-time high of $605.9 billion.

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