Russia's int'l reserves rise 2.8%, in Dec, 23.9% in 2025 to record high of $754.9 bln - CBR

MOSCOW. Jan 16 (Interfax) - Russia's international reserves rose $20.265 billion or 2.8% in December to a record high of $754.9 billion from $734.588 billion in November, according to data on the Central Bank of Russia's website.

The reserves increased by $145.785 billion, or 23.9% in 2025 as a whole, from $609.068 billion at the start of the year. They had grown $10.476 billion in 2024 and $16.603 billion in 2023.

Monetary gold grew $15.817 billion or 5.1% to a new high of $326.537 billion in December and rose $130.830 billion or 66.8% in 2025 as a whole, from $195.707 billion at the start of the year.

Foreign currency in the reserves rose in the year by $14.956 billion or 3.6% to $428.317 billion from $413.361 billion.

Higher gold prices - there was little change in the amount of gold - were responsible for nearly 90% of the year's growth in the reserves to their record high.

Gold rose from 42.3% of the reserves in November and 32.1% in January 2025 to 43.3% in December, the most since March 1, 1995, when it was 43.9%, although at the time the overall reserves were much smaller at just $5.546 billion, including $2.436 billion of gold. The lowest gold share since records on the Central Bank website begin on January 1, 1993 was less than 2.1% on July 1, 2027.

The Central Bank has only limited control of a significant portion of its gold and foreign exchange reserves due to sanctions imposed on it by Western countries in 2022. Reserves consisting of gold and Chinese yuan assets were not sanctioned. Reserves dynamics are influenced largely by changes in the value of reserve assets due to revaluation against the U.S. dollar, and by operations carried out in the framework of the fiscal rule.

International reserves consist of foreign exchange, monetary gold, SDR holdings, reserve position in the International Monetary Fund and other reserve assets.