Russia’s gold/forex reserves go up to exceed $524 bln in Jan-Jun – bank.

20/7 Tass A-9

MOSCOW, July 20 (Itar-Tass) —— Russia’s gold and foreign exchange reserves (or international reserve assets) increased to 524.527 billion U.S. dollars as of July 1, the Central Bank of Russia said in its regular report on Wednesday. Other liquidity in foreign currencies was estimated at 36.8 million U.S. dollars.

As of January 1, 2011, the country’s international reserves amounted to 479.38 billion U.S. dollars, the bank said.

As of July 1, Russia’s international reserve assets were at 471,530.9 million U.S. dollars, including 408,104.1 million U.S. dollars of capital assets, and 63,426.8 million U.S. dollars of foreign currencies in cash and deposits, the bank said.

Special Drawing Rights (SDR) increased from 9.096 billion U.S. dollars to 9.098 billion U.S. dollars, the bank reported, adding that Russia’s reserve position in the International Monetary Fund (IMF) grew to exceed 2.974 million U.S. dollars.

Monetary gold reserves, estimated under the Central Bank’s current quotations, amounted to 40.512 billion U.S. dollars, the bank said in the report, adding that gold reserves amounted to 26.9 million net troy ounces as of July 1, 2011.

Other international reserve assets amounted to 411.2 million U.S. dollars, the banks said.

As of July 1, foreign currency denominated deposits, which are not included in the international reserves, stood at 36.8 million U.S. dollars.

The country’s international reserve assets reached their maximum worth 598.1 billion U.S. dollars on August 8, 2008, the bank reaffirmed.

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