Russia's foreign exchange reserves increase by $1 billion in August

According to the Bank of Russia, as of August 25, Russia's international reserves have amounted to $580.5 billion dollars.

International reserves reached $579.5 billion as of August 18, increasing by $1 billion during the week, SIA reports with reference to Russian sources.

It's important to note that international reserves are highly liquid financial assets held by the Bank of Russia and the government of the Russian Federation.

They consist of foreign currency assets, monetary gold, special drawing rights (SDRs, special drawing rights, account currency used by the International Monetary Fund, IMF), reserve position in the IMF and other reserve assets.

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