Monetary gold reserves in Russia’s international reserves amounted to 74.9 million ounces as of March 1, 2023. This is evidenced materials Bank of Russia.
During the year, the volume of gold reserves increased by 1 million ounces (about 31 tons).
At the beginning of March, the value of gold in reserves was $135.564 billion, reports R.T.
Earlier, on February 6, it became known that Russia, following the results of 2022, took fourth place in the ranking of the owners of the largest gold and foreign exchange reserves in the world, according to the website kp.ru.
China ranked first for the 17th time in a row, with $3.31 trillion in reserves at the end of December. This is followed by Japan ($1.27 trillion) and Switzerland ($924 billion). Russia is in fourth place with $582 billion in reserves.
As Natalia Milchakova, a leading analyst at Freedom Finance Global, told Izvestia, the fact that Russia took fourth place in the ranking reflects the fact that the Russian economy and the ruble are quite stable, despite the unfavorable geopolitical background.
At the same time, Freedom Finance Global analyst Vladimir Chernov explained that gold is stored domestically, so it cannot be frozen or seized, unlike entries in the country’s foreign exchange reserve books.
On February 5, it was reported that gold and foreign exchange reserves in the world in 2022 fell by $1 trillion. The stocks of Switzerland, Japan, and Singapore were depleted the most.
On January 26, the Central Bank reported that the volume of Russian international reserves as of January 20 amounted to $594.6 billion, having increased by $2.6 billion over the week (by 0.4%).
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