The Central Bank reported an increase in Russia's international reserves to $725.8 billion.

Russia's international reserves increased by 1.76% to $725.841 billion in October. This follows from the data published on the official website of the Central Bank of the Russian Federation.

It is noted that the increase was in the amount of $12.54 billion. In addition, the value of monetary gold in reserves increased by $17.608 billion last month to $299.821 billion.

International gold and foreign exchange reserves are highly liquid foreign assets managed by the Central Bank and the Government of Russia. They include currency, special drawing rights, monetary gold, and a reserve position with the International Monetary Fund (IMF). Highly liquid assets also allow the government to ensure financial stability and meet external obligations.

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Alexander Safonov, a professor at the Financial University under the Government of the Russian Federation, said on October 8 that the growth of Russian gold and foreign exchange reserves indicates the economic stability of the state and increases investor confidence. The expert recalled that gold itself is a valuable resource, which is why it has a very high liquidity. He stressed that in the current geopolitical and macroeconomic conditions, betting on precious metals is absolutely justified.

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