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. Last Updated: 07/27/2016

Russia's Reserves Drop




MOSCOW -- Russian hard currency reserves fell by $200 million to $11.7 billion in the week ending Aug. 6, the Central Bank said Thursday. The bank gave no reason for the drop in the reserves, which stood at $11.9 billion a week earlier.


At the beginning of this year, Russia's reserves totaled $12.2 billion, and they dropped to a three-year low of $10.9 billion on March 26.


The reserves are considered low for a country of Russia's size, and are one of the reasons that Moscow has been unable to meet some of its recent foreign debt payments.