International reserves of the Russian Federation in March increased by 3.4%, to $593.9 billion
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Russia’s international reserves amounted to $593.88 billion as of April 1, up 3.4% from a month ago, informs Bank of Russia. As of March 1, 2023, they amounted to $574.25 billion. As of April 1, 2022, the reserves amounted to $606.409 billion.
Gold and foreign exchange reserves (GFR) consist of monetary gold and foreign currency.
In March, foreign exchange reserves rose to $446.87 billion (+1.9%) from $438.68 billion, the value of monetary gold rose to $147.011 billion (+8.4%) from $135.56 billion.
As a result of the sanctions imposed in response to the military operation, up to $300 billion of the $640 billion in Central Bank reserves were frozen. In December 2022, the regulator considered expansion of gold reserves only if additional accumulation of funds is required within the framework of the fiscal rule.
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