International reserves of Russia has established a five-year record

Международные резервы России установили пятилетний рекорд

Russia’s international reserves for the first time since the beginning of 2014 exceeded $ 500 billion. As of 7 June, amounted to 502 billion dollars. This is evidenced by the data on the official website of the Central Bank of Russia.

Over the last reporting week, the reserves rose by a half percent. The Central Bank is linked with the positive results of the revaluation and purchase of foreign currency.

The last time the reserves were estimated at above 500 billion dollars on January 3, 2014 – while their volume amounted to 510,5 billion dollars. However, after a week was reduced to 499,1 billion, and by the end of the year reserves decreased to 388,5 billion dollars.

International reserves are highly liquid financial assets managed by the Central Bank and the government of Russia. These include foreign currency accounts in gold and securities issued by non-residents. They can be used in particular for adjustment of the exchange rate.