Russia’s international reserves decreased by USD 6.3 billion after Trump's victory Saturday, November 26, 2016 4:40:41 PM

International reserves of the Central Bank of Russia (CBR) fell by USD 6.3 billion from November 4 to November 18.

This is evident from data provided by the Bank of Russia, TASS reports.

Donald Trump winning the presidential election in the United States led to the strengthening of the dollar and the reduction of the cost of US Treasury bonds, which make up a significant proportion of reserves of the Bank of Russia, experts say.

This led to a negative revaluation of international reserves. However, according to economists, this decrease is not significant.

According to the CBR’s data, in the week from November 11 to November 18, international reserves decreased by USD 3.7 billion to USD 389.4 billion.

The CBR’s comments indicated that the decline in international reserves during this period happened due to the negative revaluation. Since November 4, the reduction in reserves amounted to USD 6.3 billion or 1.6%.

Share

Comments

Please enable JavaScript to view the comments powered by Disqus.