Russia's gold reserves reach record high, exceeding one-third of total reserves

Russia's gold reserves have hit a historic peak, reaching a record value of $217.4 billion in February, the Central Bank of Russia said.

This marks a significant milestone, with the share of gold in the country's total reserves surpassing one-third for the first time since the 20th century, Caliber.Az reports citing Russian media.

As of February, the proportion of gold in Russia's international reserves stood at 34.4 per cent, the highest level since October 1999. At that time, gold represented 39.7 per cent of the reserves, but its value was just $4.7 billion—nearly 50 times less than the current figure.

Overall, Russia's international reserves grew by 1.9 per cent in February, increasing from $620.8 billion to $632.4 billion by March 1, according to the Central Bank’s data.

Earlier, it was reported that in January, the Bank of Russia, alongside the Central Bank of Jordan, became the world's leading sellers of gold among central banks, each selling three tons of the precious metal. Additionally, the National Bank of Kyrgyzstan was also listed in the top three for the month, according to data from the World Gold Council.

By Vafa Guliyeva