The volume of Russia’s international reserves stood at 561.9 billion dollars, edging down by 0.9 percent, or 4.9 billion, in the week ending September 2, 2022. This figure reflects data from the Central Bank’s press materials summarized by the TASS news agency. The decline is attributed to negative revaluation across reserve assets, not a net outflow of capital.
Earlier data noted that Russia’s international reserves were 565.66 billion dollars as of September 1, 2022, down 1.95 percent, or 11.244 billion, from the level at the start of August. The trend underscores ongoing fluctuations in the value of reserve holdings amid global market movements and currency re-valuations.
Looking back further, on September 1, 2021, international reserves were reported at 618.181 billion dollars, indicating a decrease of 8.5 percent from the previous year’s level. By February 1 of the following year, reserves stood at 630.207 billion dollars, representing a 10.3 percent increase compared with September 1 of the prior year, reflecting the volatility and non-linear paths of reserve accumulation and valuation.
International reserves comprise several components: foreign currency holdings, monetary gold, special drawing rights, reserve positions in the International Monetary Fund, and other reserve securities. Each element serves to support the country’s external stability, liquidity, and monetary policy flexibility in changing global conditions.
In a related note, Dmitry Tulin, the First Deputy Governor of the Central Bank, stated that a portion of the gold and foreign currency reserves had been held in dollars and euros prior to some assets being frozen by Western counterparties that restricted domestic currency circulation. The remark highlights how external sanctions regimes can influence the composition and mobility of reserve assets, even as central banks maintain diversification strategies to preserve stability.