Russia's int'l reserves fall 1.5% to $720.9 bln in Oct - CBR

MOSCOW. Nov 9 (Interfax) - Russia's international reserves fell 1.5% or by $10.848 billion in October to $720.912 billion from $720.447 billion, according to data on the Central Bank of Russia's website.

The reserves, which were $754.853 billion on January 1, fell $33.941 billion or 4.5% in January-October.

Monetary gold in the reserves fell $9.649 billion or 3.2%, to $291.958 billion in October. Gold fell to 40.5% of the reserves as of November 1, from 41.2% on October 1.

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.