Russia Reserves Decline $10.5 Billion, Most Since May

Russia’s international reserves, which have shrunk by a fifth since last year’s peak, are in the spotlight after the central bank shifted its currency intervention policy as the ruble plunged to a record.

The value of the stockpile has declined for 11 straight weeks, losing $10.5 billion in the seven days through Oct. 31 to $428.6 billion, the largest drop since May, the central bank said today. The ruble weakened to a record low, depreciating 2.3 percent against the dollar as of 4:17 p.m. in Moscow.