MOSCOW: Russia’s foreign exchange and gold reserves fell 2.6% to $388.5 billion, central bank said in statement.
In 2013, the foreign exchange and gold reserves fell 5% to $510 billion. Russia’s international reserves have fallen below the $400 billion mark for the first time since August 2009.
During the crisis of 2008-2009, the country’s international reserves were seen to plummet to as low as $376 billion (mid-March 2009).
Russia’s international reserves are highly liquid foreign assets managed by the Central Bank of Russia. They comprise foreign currency, Special Drawing Rights (SDRs), a reserve position in the International Monetary Fund and monetary gold.
