Business · Economy · 4 hrs ago

Russia’s international reserves fell 1.48% in October to $720.9 billion

Russia’s international reserves fell 1.48% in October to $720.9 billion

Russia’s international reserves fell 1.48% in October, reaching $720.9 billion on November 1, according to the Central Bank.

The reserves belong to the Bank of Russia and the Russian government and are highly liquid foreign assets.

They include foreign currency, monetary gold and other reserve assets held through the International Monetary Fund.

In October, the value of monetary gold fell 3.2% to $292 billion, while foreign currency reserves declined by $1.2 billion to $429 billion.

The reserves matter because they are assets available to Russia’s central bank and government.

Since the start of Russia’s military operation in Ukraine, Western sanctions have frozen some Russian reserves and restricted transactions involving the Bank of Russia’s assets.

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