Russia’s international reserves from May 21 to 28 increased by 0.8 percent and amounted to 605.9 billion dollars, updating the historical maximum, the materials of the Central Bank.
The regulator clarified that over the week the volumes of reserves increased by 5 billion dollars, “mainly as a result of positive revaluation and revenues from the placement of bonds of the external bond loan of the Russian Federation.”
The previous maximum was achieved by May 21, it was about a level of $ 600.9 billion.
International (or gold) reserves are highly liquid financial assets at the disposal of the Bank of Russia and the Russian Government. They add up of assets in foreign currency, monetary gold, special borrowing rights (SDR), backup position in the International Monetary Fund (IMF) and other reserve assets.
Earlier on June 3, the Minister of Finance Anton Siluanov said that the Sovereign National Welfare Fund (FNB), which is part of gold and foreign exchange reserves, will completely abandon the assets nominated in dollars in favor of other currencies and gold. Such a decision of the Siluanov explained the danger of sanctions by the United States.