The Bank of Russia reports that the international reserves of the Russian Federation as of February 12, 2021 increased by $ 5.4 billion compared to February 5, and amounted to $ 591.5 billion.
The Central Bank believes that the growth in reserves was a result of a positive exchange rate revaluation and an increase in gold prices.
Note that the target level of the Bank of Russia for international reserves is $ 500 billion.
Earlier it was reported that the management of the International Monetary Fund praised the actions of the Russian authorities in response to the economic crisis caused by the coronavirus pandemic.
The fund noted the tax reforms carried out in the Russian Federation, and also welcomed the easing of monetary policy and the use of new liquidity instruments.