Russia’s FX, gold reserves grow 0.7% to $491 bln in April

MOSCOW, May 14 (PRIME) -- Russia’s gold reserves, part of the country’s international reserves, increased 0.7% in April to U.S. $491.088 as of May 1, the central bank said on Tuesday.

Foreign exchange and gold reserves comprise monetary gold, foreign currency and Special Drawing Rights, which are the International Monetary Fund’s currency.

Foreign currency includes the foreign currencies of the central bank and the Finance Ministry in paper money, reverse repo agreements with nonresidents, accounts with foreign banks rated at least A by Fitch and Standard & Poor’s and at least A2 by Moody’s, as well as government or other bonds issued by nonresidents with similar ratings.

End