Russia’s gold and forex reserves at all-time high
 
Russia’s gold and foreign currency reserves stood at $479.4 billion as of January 25, $1 billion up from $478.4 billion a week before, the Central Bank has reported. This is the highest level ever reported since records began.

The reserves rose for the fifth week in a row. In the previous week, from January 11 to 18, they increased by $700 million from $477.7 billion to $487.4 billion.

As a result, Russia has slightly reduced its gap from China and Japan, which have the largest gold and foreign currency reserves in the world. China’s reserves top $1.5 trillion, up 43 percent last year alone due to foreign investment and strong export revenues. Japan has over $973 billion.

Gold and foreign currency reserves are highly liquid financial assets controlled by the Central Bank and the Finance Ministry. They consist of monetary gold, special drawing rights, the reserve position in the International Monetary Fund, and foreign currency.
 

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