Snapshot for Russia Foreign Exchange and Gold Reserves (RUREFEG)

Rate Profile Information for RUREFEG

Russia's International Reserves are calculated in bln USD and published on Thursday for the previous Friday. The international reserves are highly liquid financial assets that the Bank of Russia and Ministry of Finance have at their disposal on the reporting date. The international reserves are made up of monetary gold, special drawing rights (SDR), reserve position at the IMF and foreign exchange. The foreign exchange includes the Bank of Russia's and Ministry of Finance's foreign exchange assets in the form of cash, reverse repo with nonresidents, bank deposits at nonresident banks (having not less than A rating by the classification of the Fitch IBCA and Standard and Poor's or A2 by the classification of the Moody's) as well as government and other securities issued by nonresidents with a similar rating. Starting from September 1, 1999, a sum equivalent to the balances in foreign currency on the correspondent accounts of resident banks in the Bank of Russia is deducted from the above assets except the funds allocated by the Bank of Russia to the Vneshekonombank for servicing the government foreign debt. As of Jan.1 2006 monetary gold is valued at current quotations fixed by Central Bank of Russia. Prior to that date, the monetary gold indicator was calculated at a constant rate of 300 USD per Troy ounce. As of July 1 2008 Central Bank of Russia reports the amount of reserves based on market value of the securities it keeps rather than on historical value. The Central Bank of Russia restated the size of the reserves since the beginning of 2008 in accordance with the new standards. Please refer to {RUREFEGH Index DES } for historical data prior to this revision. This index methodology has been further revised on 11/06/08. This index displays the revised data as of 04/01/2008. To view the historical values prior to 11/06/08 methodology revisions, please refer to {RUREFEH1 Index }