Russia’s international reserves, consisting of gold and foreign exchange assets held by the state, rose to a new record by surpassing the 650 billion dollar mark, according to the Bank of Russia. The milestone reflects the combined value of gold holdings and the country’s foreign currency assets and signals a strong liquidity position for the government and the central bank in the current market environment. The reserve assets provide a cushion for macroeconomic stability, a tool for policy credibility, and the capacity to meet external obligations even during periods of market stress.
Over the week from March 14 to March 21, 2025, the official tally increased by about eight and a half billion dollars, or roughly 13 percent, lifting the total to 650.4 billion. The rise is attributed mainly to positive revaluations within the reserve portfolio, as market prices for gold firmed and currency valuations moved in a way that benefited the mix of assets. While valuation effects played a substantial role, the trend also points to ongoing accumulation and diversification practices designed to strengthen the state’s financial buffer and readiness to respond to external shocks.
By March 21, 2025, the figure stood at 650.4 billion dollars, according to official disclosures. This marks a new peak in the country’s international reserve holdings and underscores the central bank’s capacity to sustain liquidity while adapting to shifts in global markets. The development reflects both market movements and deliberate portfolio management aimed at maintaining a robust reserve position.
A week earlier, Russia’s international reserves were estimated at 641.9 billion dollars, illustrating a meaningful upturn in a brief period. The week-over-week dynamics highlight how asset valuations and policy decisions can push the reserve level higher, even as the underlying strategy emphasizes risk diversification and the preservation of liquidity across a broad set of instruments.
Russia’s international reserves are highly liquid assets that serve the government and the Bank of Russia. The composition includes special drawing rights, substantial gold holdings, the central bank’s position in the IMF, and funds held in foreign currencies. This mix supports timely access to resources, sustains confidence in the ruble, and helps dampen external shocks through prudent asset allocation and risk control.
Looking at 2024, Russia ranked seventh in the growth of gold and foreign exchange reserves. The Chinese economy led the world in reserve expansion, adding about 263.3 billion dollars to its holdings. Across major economies, such movements reflect shifts in commodity prices, exchange rates, and capital flows, and they illustrate how different policy paths can shape a country’s reserve trajectory. Additionally, over the last three decades the share of the US dollar in global official reserves has declined, with diversifications toward other currencies and assets becoming more common.