Russia's gold reserves exceed $200B for 1st time

By Emre Gurkan Abay

MOSCOW (AA) – Russia's gold reserves exceeded $200 billion level for the first time in October, while the share of gold in the country's international reserves increased to 32.9%.

However, the country's international reserves fell from $633.7 billion in September to $631.6 billion in October, according to data compiled by Anadolu from the Central Bank of the Russian Federation figures.

The country's gold reserves reached $207.7 billion in October, with gold accounting for 32.9% of the total – the highest level since Jan. 1993.

The share of gold in Russia's reserves had fallen to 2.1% in June 2007.

Western countries had frozen access to about half of the Russian central bank's reserves due to the war in Ukraine.

*Writing by Gokhan Ergocun from Istanbul