Slovak unemployment inched further down to 3.88% in March
9 hours ago
Russia’s gross international reserves (GIR) rose 1.3% to $424bn in August, the central bank said in a statement on August 7.
In 2016, Russia’s foreign exchange and gold reserves grew 2.5%.
Foreign currency includes the foreign currencies of the central bank and the finance ministry in paper money, reverse repo agreements with non-residents, accounts with foreign banks rated at least A by Fitch and Standard & Poor’s and at least A2 by Moody’s, as well as government or other bonds issued by non-residents with similar ratings.
The National Welfare Fund, which is supposed to support pension and social payments in the future, held $75.36bn as of the end of August and has been largely flat over this year.
The Reserve Fund, which is used to help close any holes in the budget, has risen by $1bn since the start of the year to $17.06bn.
The Ministry of Finance said earlier that it expects the Reserve Fund to be exhausted by the end of this year and has already made preparations to tap the National Welfare Fund to plug any budget shortfalls, but with oil trading at over $50 per barrel recently the budget is almost breaking even and the Reserve Fund deplete may take longer.
The Central Bank of Russia (CBR) said previously that it wants to rebuild the GIR to $500bn and has started purchases on the FX market this year.
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