Russia's international reserves drop by $7.5 billion over week

11:18 - 11.08.2023

Russia's international reserves amounted to $586.6 billion on August 4 against $594 billion on July 28.

ABC.AZ reports citing the Bank of Russia that during the week, Russian reserves decreased by $ 7.4 billion. A week ago, the decline in international reserves was $1.9 billion.

The shares started to decline again after rising by $7.5 billion in July. At the same time, in June the figure fell $ 1.8 billion, and at the end of May the decline made $ 11.6 billion.

For the whole of 2022, Russia's international reserves experienced a drop of $48.6 billion, which is almost one and a half times higher than the increase by the end of 2021 ($34.9 billion). In 2020, Russia's international reserves gained about $41.4 billion after an increase of $85.9 billion in 2019. As of February 18, 2022, Russian reserves hit the highest on record, reaching $643.2 billion.
According to the Central Bank, currently more than half of Russia's reserves (about $300 billion) are frozen due to sanctions.