The Central Bank of Russia's (CBR) preliminary data shows that Fx/gold reserves decreased by 0.62% m/m and by 0.96% y/y to USD 509.674bn in August 2013. This follows three consecutive months of m/m Fx/gold reserves decline that started with 2.77% m/m decrease in May. In absolute terms Fx/gold reserves declined by USD 3.16bn m/m in August. Since the beginning of the year the Fx/gold reserves lost 5.2% ytd or USD 27.94bn.
In June, the gold reserves dropped by 14.4% m/m or USD 6.5bn to USD 38.55bn. In July and August gold recovered by 10.6% m/m and 6.7% m/m, respectively. In y/y terms gold reserves still lost 8.6% in August (-12.4% in July). At the same time Fx declined by 1.26% m/m or USD 5.78bn to USD 451.203bn in August. To remind, since the beginning of the year RUB lost about 10% to the bi-currency basket (0.55 USD and 0.45 EUR).
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 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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