Russia’s international reserves have decreased by $ 5 billion – down to $ 351.7 billion - for the week from 6 to March 13, 2015. This is said in the statement on the website of the Bank of Russia. Thus, the volume of the reserves has been falling for the tenth week in a row.
The regulator notes that the decrease of the last week is due to the exchange rate revaluation. Since July 2014 the international reserves of the Russian Federation has been steadily decreasing. At the end of June of last year they made up $ 478 billion, since then they have decreased by almost $ 130 billion. A part of the reserves was spent during this time on the support of the rouble exchange rate both as direct interventions and as currency repos issued on a returnable basis.
Author: Anna Dorozhkina