Russia’s gold and foreign currency reserves have increased by $11.5 billion (2.5 percent) over the past three weeks, to $477.7 billion. This is the highest level since records began.
From January 4 to 11, the reserves increased by $1.1 billion, or 0.2 percent, the Central Bank reported.
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.
The government had expected to bring Russia’s gold and foreign currency reserves to $470 billion by the end of 2007, but they fell slightly short of the target. As of January 1, 2007, the reserves stood at $303.7 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.
Russia’s gold and foreign currency reserves have increased by $11.5 billion (2.5 percent) over the past three weeks, to $477.7 billion. This is the highest level since records began. 
