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The Bank of Russia has increased its gold reserves in 2020




MOSCOW, 20 Jan – PRIME. By the end of 2020, the reserves of monetary gold in the international reserves of the Russian Federation increased by 1.23% (+27.982 tons) and as of January 1, 2021 amounted to 73.9 million ounces (2298.547 tons), according to the materials of the Bank of Russia. To the Global Currency Market Code, the Regulator did not purchase gold during December, like in the previous nine months. The Bank of Russia replenished its reserves with gold only in the first quarter, and suspended the purchase of gold on the domestic market from April 1. At the same time, further decisions on the purchase of gold will be made depending on the development of the situation in the financial market, the Central Bank said. The value of gold in reserves for the year increased by 25.71% – to 138.754 billion on January 1, 2021 from $ 110.379 billion on January 1, 2020. The share of gold in international reserves for the year increased to a record 23.29% from 19.91%. In the last month of 2020 alone, the value of gold in reserves increased by 3.8% from $ 133.67 billion on November 1, and the share of gold in international reserves decreased slightly – from 23.79%. During 2019, the Bank of Russia, as well as a year earlier, regularly purchased monetary gold to replenish its gold and foreign exchange reserves, and at the end of the year, the bank’s gold reserves increased by 7.5% (+158.6 tons) and as of January 1, 2020 amounted to 73.0 million ounces (2270.56 tons). In 2018, the Central Bank of the Russian Federation bought 273.715 tons of gold and as of January 1, 2019, reserves in gold amounted to 67.9 million ounces (2111.93 tons). In 2017, gold reserves in the RF reserves increased by 13.87% (+223.95 tons) and as of January 1, 2018 amounted to 59.1 million ounces (1838.22 tons).

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