Russian reserves shrinking
In one week, the Russian international reserves shrunk more 22 billion USD to a total of 453,5 billion USD. That is almost 150 billion USD less than in August.
The Russian reserves shrunk from 475,4 billion USD to 453,5 billion USD in the period 7-14 November, figures from the Russian Central Bank shows. The drop is far more dramatic than in the preceding two weeks when the reserves shrunk less than 12 billion USD.
The Russian reserves have over the last years increased strongly, reaching a maximum on 8 August this year when they totalled 598,1 billion USD.
Interventions to prop up the rouble from widespread capital flight have sliced more than 100 billion USD from the reserves since early August. In addition, the government has spent considerable sums on the support of banks and the big companies.
