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.
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 | ||||||||
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