Russia's international reserves decreased by $5.4 billion in a week
Russia's international reserves decreased to $725.8 billion in the period from October 24 to October 31. Information about this follows from the data of the Central Bank of the Russian Federation.
As of October 24, the volume of Russian international reserves amounted to $731.2 billion. However, in the last week of October, their volume decreased by $5.4 billion to $725.8 billion. The reduction was 0.74%.
International gold and foreign exchange reserves are highly liquid foreign assets managed by the Central Bank and the Government of the Russian Federation. They include currency, special drawing rights, monetary gold and a reserve position in the International Monetary Fund (IMF). Highly liquid assets make it possible to ensure the financial stability of the country and the fulfillment of external obligations.
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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