World Economy

Russia’s Int’l Reserves Grow

Russia’s Int’l Reserves GrowRussia’s Int’l Reserves Grow

Russia’s international reserves grew $1.3 billion over the week from December 18 to 25 and totaled $370.2 billion, the Central Bank said, RT reported. Russia’s international reserves are highly liquid foreign assets available with the Bank of Russia and the Russian government. They comprise foreign currency, Special Drawing Rights, a reserve position in the International Monetary Fund and monetary gold. Meanwhile, the inflation rate in Russia reached 12.9% in 2015, according to the Federal Statistics Service. This is the worst rate since the global economic crisis in 2008 when annual inflation edged 13.3%.