CBRT reserves reach highest level in 9 years

The Weekly Money and Bank Statistics were published by the CBRT. Accordingly, as of November 17, the Central Bank's gross foreign exchange reserves rose by 4 billion 582 million dollars to 89 billion 226 million dollars. Gross foreign exchange reserves stood at 84 billion 644 million dollars on November 10.

During the same period, gold reserves increased by 1 billion 271 million dollars, rising from 43 billion 970 million dollars to 45 billion 241 million dollars.

The Central Bank's total reserves rose by 5 billion 854 million dollars in the week of November 17 compared to the previous week, reaching 134 billion 468 million dollars from 128 billion 614 million dollars, marking the highest level in the last 9 years.

The increase in total reserves from the end of May to the week ending November 17 amounted to 36 billion 10 million dollars, which corresponds to an increase of 36.6 percent. During this period, total reserves increased for 15 consecutive weeks, setting a record for the longest streak of growth since data collection began in 1987.

News Source: 12punto