Russian international reserves down 2.2% in Sept to $569 bln - CBR
MOSCOW. Oct 6 (Interfax) - Russia's international reserves fell 2.2% or $12.638 billion in September 2023 to $569.021 billion from $581.659, the Central Bank said on Friday.
In January-September 2023, reserves fell $12.968 billion, or 2.2%, from $581.989 billion on January 1.
The value of monetary gold in reserves in September fell $4.239 billion, or 2.9%, to $140.499 billion, with the share of gold in reserves declining to 24.7% from 24.9%.
The CBR, after sanctions imposed on it in 2022 by Western countries, is restricted in managing a significant part of gold and foreign exchange reserves. The part of reserves consisting of gold and assets in Chinese yuan was not subject to restrictions. The main factor in reserves trends is changes in the value of reserve assets as a result of revaluation against the U.S. dollar, as well as transactions conducted under the fiscal rule.
International reserves are highly liquid foreign assets held by the CBR and the Russian government. They consist of foreign currency assets, monetary gold, special drawing rights (SDR, a unit of account used by the International Monetary Fund, IMF), reserve position with the IMF and other reserve assets.