Page 62 - RusRPTNov20
P. 62
5.2.4 Gross international reserves
Russia’s gross international reserves (GIR) slid slightly in September falling from $594.4bn as of August 31 to $583.4bn as of September 31.
One of the changes in September and October is the CBR has sold some gold to take advantage of sky high prices on the gold markets. India and Uzbekistan did the same. This was the first time that the CBR was a net seller of gold in many years. The central bank began accumulating gold in 2007 and only stopped actively purchasing gold and increasing its share in reserves earlier this year.
The share of gold in Russia’s GIR as of the end of September was $139.1bn down from $144.6bn at the end of August but still up from $110.4bn at the start of this year.
6.0 Public Sector 6.1 Budget
62 RUSSIA Country Report November 2020 www.intellinews.com
The Ministry of Finance submitted the draft of the federal budget law for
