The Central Bank of Russia's (CBR) preliminary data shows that Fx/gold reserves increased by 0.33% m/m to USD 524.28bn in October 2013. This follows a 2.5% m/m gain seen in September after four consecutive months of m/m Fx/gold reserves decline. In y/y terms, however, Fx/gold reserves were still lower by 0.5% y/y as of end of October. Since the beginning of the year the Fx/gold reserves lost 2.8% ytd (5.2% ytd as of end of August) or USD 15.04bn.
In October, gold reserves went up by 2.12% m/m to USD 44.05bn, accounting for most of the m/m change in CBR’s reserves. In y/y terms gold reserves still lost 14.5% in October (-19% in September).
At the same time Fx remained almost flat m/m at USD 466.94bn in October. In September and October RUB rate recovered to foreign currencies.
In 2012, after a USD 13.9bn dive of the indicator amidst RUB depreciation in June reserves swindled between USD 510bn and USD 514bn in June-Aug. CBR’s Fx/gold reserves recovered to USD 530bn in September 2012 and picked up further in December 2012 to RUB 537.618bn. Reserves recorded a 7.8% y/y growth in 2012 overall. In 2011 Fx/gold reserves increased by 4% y/y to USD 498.649bn.
|Central Bank of Russia Reserves (USD bn)|
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