CBR’s Fx/gold reserves inch by 0.3% m/m in October.

By bne IntelliNews November 8, 2013

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)          
  Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Jan-13 Aug-13 Oct-13
Total Reserves 427.080 436.267 479.379 498.649 537.618 532.155 509.674 524.284
Forex 406.205 402.778 432.948 441.162 473.110 466.598 451.203 466.937
Gold 14.533 22.753 35.788 44.697 51.039 51.960 45.472 44.045
Source: CBR                

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russia’s Rosneft mulls Kurdistan-Turkey-Europe gas pipeline

Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more

Turkish shipper Palmali lodges near-$2bn English High Court claim against Lukoil trading arm

Turkey-based Palmali, one of the biggest shippers in the Caspian region, has reportedly lodged a claim with the English High Court worth almost $2bn against Litasco, Russian oil producer Lukoil’s ... more

Czech president renews call for dropping of sanctions against Moscow

Czech President Milos Zeman on September 12 renewed his call for EU sanctions against Russia to be dropped during a meeting with his German counterpart Frank-Walter Steinmeier at Prague Castle. ... more

Most Read

  1. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    7 days ago
  2. Volkswagen doubles exports of Russia-made cars
    5 days ago
  3. KYIV BLOG: Ukraine headed for a constitutional crisis
    7 days ago
  4. Turkey’s decision to buy Russian missile-defence system alarms Washington
    7 days ago
  5. Eastern Europe on alert as Russia targets “West” in largest war games for years
    5 days ago
  1. Hungary threatens to block Romania’s OECD accession
    13 days ago
  2. ISTANBUL BLOG: Commerzbank ignites quarrel claiming Turkey’s official growth figures are “more than questionable”
    7 days ago
  3. Economists tangle over risk of a Greek-style collapse in Turkey
    18 days ago
  4. Wild capitalism threatens the untamed rivers of Southeast Europe
    1 month ago
  5. Russia’s government moves from war budget to election budget
    26 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss