Russia Reserves Fall $7.9 Billion, Biggest Drop Since May
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Russia’s international reserves tumbled $7.9 billion in the biggest drop in more than five months as the central bank sold foreign currency to arrest the ruble’s decline to a record.
The value of the stockpile, the second-biggest in Europe after Switzerland’s, shrank for a ninth week to $443.8 billion in the seven days through Oct. 17, the central bank said on its website today. It dropped $3 billion a week earlier.