The Bank of Russia starts publishing data on sufficiency of international reserves from Friday. According to regulator’s data as of October 1, 2015, gold and currency reserves are nearly five times higher than the three-month import volume (IMF methodology).
Reserves are equal to $371.3 bln and the import volume is $78 bln. Reserve are also sufficient at the same time to cover foreign debt repayments for the nearest year ($134.1 bln), the totality of foreign debt and import payments ($212.1 bln), 20% of commitments included into broad money ($142.3 bln), and the potential outflow of funds if the totality of risks occurs ($179.8 bln).
The Bank of Russia set the task in summer 2015 to increase international reserves to $500 bln in several years if the market situation is favorable. Russia’s international reserves rose $1 bln to $369.3 bln from January 15 to 22, 2016.