Moscow, Russia – The Russian Central Bank revealed that the country’s gold reserves have reached unprecedented record levels.
Its value has exceeded the $300 billion mark for the first time in Russia’s history.
According to data from the Central Bank, the value of Russian gold reserves increased at the end of last November.
This brings the total to US$310.7 billion, marking a monthly increase of 3.6%.
This increase marks the fourth consecutive month that gold investments in Russia have reached a record high.
It increased by 3.6% at the end of last fall to reach the new record high.
Russia’s international reserves consist of highly liquid foreign assets at the disposal of the Central Bank and the Russian government.
These include foreign currencies, special borrowing rights, and the reserve position in the International Monetary Fund.
It should be noted that the highest share of gold in Russia’s international reserves was recorded on January 1, 1993.
At that time it reached 56.9%, while the lowest share was recorded in June 2007, at only 2.1%.
