The Bank of Russia’s gold reserves fell to their lowest level since November 2019, standing at 72.8 million ounces as of October 1.
According to data from the regulator, the value of its gold reserves fell from $333.5 billion to $301.6 billion in September, while their volume has declined by 2.7% since the beginning of the year.
The Central Bank began reducing its reserves last year, when the Finance Ministry sold gold and foreign currency from the National Wealth Fund to cover the budget deficit.
According to data from the regulator, the value of its gold reserves fell from $333.5 billion to $301.6 billion in September, while their volume has declined by 2.7% since the beginning of the year.
The Central Bank began reducing its reserves last year, when the Finance Ministry sold gold and foreign currency from the National Wealth Fund to cover the budget deficit.