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Russia's International Reserves Have Dropped

putin gold
putin gold

AP Images

Editor's Note: Earlier it was reported that the Central Bank's gold reserves decreased by $4.3 billion, quoting Vesti Finance. However, in actuality, it is international reserves assets that have decreased — not gold. Appropriate changes have been made.

Russian international reserves assets decreased from $420.5 billion to $416.2 billion, according to the central bank.

This is down, following a slight increase the week before — when they inched up from $420.5 from $420.4, according to Vesti Finance.

Gold reserves, which are included in international reserves, have remained unchanged — despite the drop in international reserves.

Right now, Russia's facing a slew of economic problems — following the sanctions and dropping oil prices.

In an attempt to arrest the ruble's collapse, the Central Bank of Russia raised rates from 10.5% on Thursday, up from 9.5%.

S o far, this has not had the intended effect: the ruble dropped to a new low of nearly 56 rubles to the dollar on Thursday.

ruble dollar
ruble dollar

Bloomberg




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