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International Reserves of the Russian Federation

from to  

Weekly values as of the end of accounting date

billions of US dollars
Дата Объем
07/03/2014 494.6
14/03/2014 493.2
21/03/2014 486.6
28/03/2014 484.0
04/04/2014 473.9
11/04/2014 477.7

A country’s international reserves are those external assets that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be foreign currency assets and assets that actually exist. International reserves should be assets of high quality.

The international reserves of the Russian Federation are highly liquid external assets that are readily available to the Bank of Russia and the Government of the Russian Federation.

Data are compiled on the basis of definitions contained in the sixth edition of the IMF’s Balance of Payments and International Investment Position Manual (BPM6), and the IMF’s International Reserves and Foreign Currency Liquidity: Guidelines for a Data Template (2012).

The international reserves consist of foreign exchange, SDR holdings, reserve position in the IMF and monetary gold.

Foreign exchange includes foreign currency; balances on nostro corresponding accounts including unallocated gold accounts; deposits with the initial maturity of up to 1 year including gold deposits with foreign central banks, the Bank for International Settlements (BIS) and nonresident deposit-taking corporations; debt securities issued by nonresidents; loans extended under reverse repo agreements, and other financial claims on nonresidents with the initial maturity of up to 1 year.

Securities received as collateral under reverse repos or under securities’ lending agreements (received in exchange for other securities) are not included in international reserves. Securities provided to counterparties under securities’ lending transactions are recorded in international reserves, whereas securities that serve as collateral under repurchase agreements are excluded therefrom.

Part of resources on accounts of the Reserve Fund and of the National Wealth Fund of the Russian Federation which is denominated in foreign exchange, deposited with the Bank of Russia and further invested by the Bank of Russia in foreign financial assets is included in the international reserves of the Russian Federation.

Foreign exchange-denominated claims of the Bank of Russia and the Government of the Russian Federation on residents are not included in the international reserves of the Russian Federation.

Special drawing rights (SDRs) are international reserve assets created by the IMF and allocated to members; included are balances of SDR holdings on the account of the Russian Federation in the Fund’s SDR Department.

Reserve position in the IMF is the sum of the reserve tranche position (representing foreign exchange component of the quota of the Russian Federation in the Fund) and the country’s claims on the IMF arising from lending under the New Arrangements to Borrow.

Monetary gold is defined as standard gold bars and coins with a purity of at least 995/1,000 held by the Bank of Russia and the Government of the Russian Federation. It comprises gold in vault, en route and in allocated accounts, including those that are held abroad.

Transactions are recorded as of the value date with interest accrued.

Values are converted to US dollars using official exchange rates of foreign currencies in terms of the Russian ruble and gold reference prices set by the Bank of Russia and effective on the reporting date.

Changes in the Methodology of Statistical Reporting of International Reserves
of the Russian Federation

Date Change Description
since 01.08.1998 Gold deposited in unallocated gold accounts has been included in foreign exchange reserves.
since 01.09.1999 An adjustment to gross international reserves has been introduced to reduce the amount of foreign currency reserves by: — the sum of the Bank of Russia’s assets held in nonresident banks in whose equity the Bank of Russia has a stake, and — the amount equivalent to the balances of foreign exchange held on correspondent accounts of resident banks with the Bank of Russia, exclusive of the funds provided to Vnesheconombank for public external debt service and repayment.
since 01.07.2002 Foreign currency reserves have been decreased by exclusion of the amount of funds received by the Bank of Russia under repurchase agreements (since 01.10.2002 — by exclusion of the amount of securities provided as collateral under repo agreements).
since 01.01.2006 Monetary gold has been valued at current reference prices set by the Bank of Russia, until 01.01.06 valuation has been at the price of 300 US dollars per fine troy ounce.
since 01.01.2008
  • Securities have been recorded at market values (until 01.01.2008 — at amortized values).
  • The adjustment introduced effective 01.09.1999 has been abolished.
  • The exclusion from foreign currency reserves of part of securities transferred to nonresidents under interrelated repos has been discontinued, and simultaneously the Bank of Russia has stopped recording under reserves the claims on nonresidents under interrelated reverse repos.
since 01.01.2010 Gold coins with a purity of at least 995/1,000 have been included in monetary gold.