SMM: the latest data from the Central Bank of Russia show that its gold and foreign exchange reserves are still growing.
The latest figures show that in the week from September 25 to October 2, the country's foreign exchange reserves rose 0.9 per cent, or $5.1 billion, to $585.8 billion in gold and foreign exchange reserves.
Behind this, the rebound in gold prices has contributed some appreciation.
Russia's foreign exchange reserves have increased by $31.4 billion since the start of the year, according to central bank data.
Against the backdrop of record monthly gold prices, the value of the country's foreign exchange reserves has also hit an all-time high.
Russia has been a big buyer of the gold market for the past few years, but this year, due to higher gold prices and pressure on its own economy, Russia's central bank announced in April that it would suspend the increase of gold reserves.
