Russian international reserves down $8 bln in week
MOSCOW. Dec 22 (Interfax) - Russia's international reserves fell $8 billion to $379 billion in the week to December 16, the Central Bank said on Thursday.
The reserves stood at $387 billion on December 9.
They consist of highly liquid financial assets at the disposal of the CB and Russian government, including foreign currency, monetary gold, special drawing rights, the reserve position at the IMF and other reserve assets.
The Central Bank said that the decrease, the biggest weekly decline since a drop of $10.4 billion in December 19-26, 2014, was connected mainly with a negative revaluation of reserve assets [against the backdrop of dollar strengthening after the U.S. Federal Reserve System raised interest rates on December 14].
In addition, the Central Bank's provision of FX swaps to resident banks had an impact on reserves [on December 15, the first portion of deals to sell U.S. dollars for rubles on a tom-next basis totaling $2 billion was transacted].