Russia June foreign reserves rise to $688.73B

Russia June foreign reserves rise to $688.73B

MOSCOW, July 2, 2025 — Russia's international reserves have increased significantly, rising to $688.73 billion as of June 27, 2025, according to the Central Bank. This represents a 0.1% increase from the previous week's total of $687.2 billion [2].

The rise in reserves is largely attributed to a positive revaluation of assets, which includes the strengthening of the Russian rouble. The increase in reserves comes amidst growing concerns over the currency's strength and potential overvaluation. The Finance Ministry has announced plans to sell a larger amount of foreign currency and gold from the National Wealth Fund (NWF) in July, which could contribute to the stabilization of the rouble [1].

The central bank's governor, Elvira Nabiullina, has maintained that the currency's weakness would indicate economic vulnerability. She has emphasized that the exchange rate should not solely benefit exporters. Despite the rouble's significant appreciation against the dollar since the beginning of the year, the currency continues to face market pressures [1].

The Russian government's plan to tap the NWF for 447 billion roubles in 2025 to balance the budget implies that forex sales from the NWF will accelerate later in the year. This strategy aims to manage the country's foreign exchange reserves more effectively while addressing fiscal needs [1].

As of July 2, 2025, the rouble has strengthened by 0.3% against the U.S. dollar, trading at 78.70 roubles per dollar. The currency has been volatile, with significant fluctuations driven by geopolitical tensions and economic policies [1].

The increase in foreign reserves highlights Russia's efforts to stabilize its economy amidst global uncertainties. The country's central bank and finance ministry continue to monitor and adjust forex policies to maintain a balanced approach to currency management.

References:
[1] Reuters. (2025, July 3). Russia to ramp up net foreign currency sales in July. Retrieved from https://www.reuters.com/markets/europe/russia-ramp-up-net-foreign-currency-sales-july-7-2025-07-03/
[2] TASS. (2025, July 3). Russian international reserves increase to $687.7 bln. Retrieved from https://tass.com/economy/1985081