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Russia's International Reserves Post Sharp Decline in March
(MENAFN) Russia's international reserves suffered a sharp monthly decline in March, dropping 7.45% to $749 billion, fresh data published by the country's central bank revealed on Tuesday.
The Russian central bank confirmed that reserves stood at $749 billion as of April 1, marking a significant retreat from the $809 billion recorded on March 1.
The reserves encompass a broad basket of assets — including foreign currency holdings, gold, and other reserve instruments — managed jointly by the Russian central bank and the government.
The figures underscore the sustained financial pressure on Moscow since Western nations moved to freeze access to roughly half of the central bank's reserves in response to Russia's war in Ukraine — a move that has continued to constrain the country's financial firepower.
The Russian central bank confirmed that reserves stood at $749 billion as of April 1, marking a significant retreat from the $809 billion recorded on March 1.
The reserves encompass a broad basket of assets — including foreign currency holdings, gold, and other reserve instruments — managed jointly by the Russian central bank and the government.
The figures underscore the sustained financial pressure on Moscow since Western nations moved to freeze access to roughly half of the central bank's reserves in response to Russia's war in Ukraine — a move that has continued to constrain the country's financial firepower.
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