6/7, 3:53 PM (Source: TeleTrader)
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Russia's foreign reserves down 1.9% in May to $584B

The International Reserves of the Russian Federation fell by $11.6 billion or 1.9% in May to $584.2 billion, the Bank of Russia said on Wednesday.

In the January-May term, reserves grew by $2.2 billion, or 0.4%, from $582 billion at the beginning of January.

In addition, the institution added that the value of gold in reserves for the same reported month dropped by $2.8 billion, or 1.9%, to $148.6 billion, while the proportion of gold in reserves jumped to a record high of 25% from 24.9%.

Baha Breaking News (BBN) / JG