In seven day, Russia increased its gold and foreign exchange reserves by 1.5 percent. From March 1, the reserves rose by 1.7 percent, from $380.5 billion.
They include securities, foreign exchange cash, special drawing rights of the IMF, monetary gold, and a number of other assets.
Gold is considered to be a buffer against external economic risks after Russia, one of the world’s largest oil exporters, was hit by a slump in global oil prices.
Gold reserves were used by the Central Bank to support the ruble exchange rate. In November 2014, the bank allowed the ruble to trade freely and stopped spending the yellow metal. In November 2014, the value of Russia’s gold reserves reached $510.5 billion.