Russia’s international reserves grow for the first time in six months

Russia’s international reserves grew by $1.2 bn up to $352.9 bn for the week from March 13 to 20, the Russian Central Bank reports.

It is the first growth since the end of last November when from November 21 to 28 it grew from $420.4 bn to $420.5 bn. Since the beginning of the year, Russia’s reserves shrinked by $35.6 bn. As press office of the Central Bank informs, the current growth was mostly caused by positive dynamics of the currency rate and mark to market.

Russia’s international reserves consist of finances in foreign currencies, SDR holdings, monetary gold and reserve position in the International Monetary Fund.