Russia’s international reserves decreased by $ 1.1 billion over the week

The international reserves of the Russian Federation as of November 5, 2021 amounted to $ 622.1 billion, having decreased by $ 1.1 billion over the week, the Central Bank said, Trend reports with reference to TASS.

As of October 29, the volume of reserves was $ 623.2 billion.

The Central Bank notes that reserves declined by 0.2% under the impact of negative revaluation, partially offset by the purchase of foreign currency under the fiscal rule.

International reserves, which are highly liquid foreign assets held by the Bank of Russia and the Russian government, consist of foreign currency funds, special drawing rights, a reserve position in the IMF, and monetary gold. The target level of the Central Bank of the Russian Federation for international reserves is $ 500 billion.

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