MOSCOW: Russian gold and foreign currency holdings hit almost $569 billion as of July 1, according to the latest data released by the country’s central bank. The international funds increased by $2.7 billion, or around 0.5 percent, compared to the previous month. They rose by more than $50 billion since last July. The state international reserves are highly liquid foreign assets comprising stocks of monetary gold, foreign currencies, and Special Drawing Right (SDR) assets, which are at the disposal of the Central Bank of Russia and the government. The current level of holdings is higher than the target of $500 billion set by the CBR several years ago. Russia has been boosting its reserves for four years running. TLTP
