Follow us on:   

Dip in Russian foreign reserves in March
April 7, 2014, 1:40 pm

Moscow is struggling with fleeing foreign capital in the wake of Western sanctions for its annexation of Crimea [PPIO]

Moscow is struggling with fleeing foreign capital in the wake of Western sanctions for its annexation of Crimea [PPIO]

Russian foreign reserves have dipped, shows new statistics from the Russian Central bank on Monday.

The volume of Russia’s foreign reserves as of April 1, 2014, stands at $486.131 billion against $493.326 billion on March 1 of this year.

The reserves for March dropped $7.2 billion, or 1.5 per cent, the bank said on its website.

In 2013, Russia’s international reserves dropped 5 per cent, while the historic maximum was reached at the beginning of August 2008 at $598 billion.

The BRICS bloc of five hold total foreign-currency reserves of $4.4 trillion, $3 trillion of which are held by China alone.

Meanwhile, Moscow is struggling with fleeing foreign capital in the wake of Western sanctions for its annexation of Crimea.

According to Russia’s Deputy Economy Minister, Andrey Klepach, around $70 billion of foreign capital left the country in the first three months of this year.

Source: Agencies

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.