Foreign currency reserves increased by 2.1 percent to 53 billion dollars, while gold reserves decreased by 3.4 percent to 40.7 billion dollars.
Short term predetermined net drains of the Central Government and the CBRT (foreign currency loans, securities, FX deposit liabilities) increased by 8.3 percent to 30.6 billion dollars, of which 25.1 billion dollars in principal repayments and USD 5.5 billion in interest payments.
Additionally, outstanding FX and gold liabilities arising from the CBRT’s financial derivative activities with resident and non-resident banks recorded 58 billion dollars, of which 21.7 billion dollars is due in one month.
Contingent short-term net drains on foreign currency consists of “collateral guarantees on debt due within one year” and “other contingent liabilities (“Required Reserves in Blocked Accounts in Foreign Currency and Gold” and “Letters of Credit” items in the CBRT’s balance sheet). These liabilities recorded 49.4 billion dollars increasing by 2.1 percent compared to the previous month.