World Bulletin / News Desk
Figures released by Russia’s central bank have revealed that the country's international reserves are down to $379.4 billion as of Jan.16.
Thursday’s data reveal that between jan. 9 and 16 the bank spent $6.8 billion from its international reserves. No change was recorded on the previous week; during the week before that the regulator spent $2.3 billion.
According to the central bank, Russia's international reserves consist of foreign exchange, SDR holdings, the IMF reserve position and monetary gold. In recent months the regulator has been compelled to sell off large amounts of foreign currency in order to stabilize the plummeting ruble, which hit record lows on Dec.16 2014 and has yet to show any significant recovery.