According to data from the Central Bank of Russia, the country’s reserves increased by $7.548 billion, to reach $589.966 billion on August 1.
While gold reserves rose during the past month by 2.01 percent to $ 145.783 billion.
And Russia’s international reserves had reached their highest level ever on February 18, 2022, reaching at that time ($643.2 billion), before the outbreak of the Russian-Ukrainian war in the same month.
And the Russian Central Bank announced that, starting from Thursday until the end of the year, it will stop buying foreign currencies from the local markets, in a move aimed at curbing the deterioration of the national currency after the ruble reached its lowest price against the euro and the dollar since March 2022.
And the bank said in a statement on Wednesday night that, “From August 10, 2023 until the end of 2023, the Central Bank decided to stop buying foreign currencies in the local market in order to reduce the fluctuations of financial markets.”
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