Russian international reserves decline to $809.3 billion in February

The Central Bank of Russia's international reserves declined by $24.3 billion in February, reaching $809.3 billion as of February 28, 2026.

This marks a decrease from the $833.6 billion recorded at the end of January.

The reduction was largely attributable to a significant drop in gold holdings, which fell by $18.7 billion from $402.7 billion to $384.0 billion.

Foreign exchange reserves also contributed to the overall decline, decreasing by $5.6 billion from $430.9 billion to $425.3 billion during the month.

Despite this monthly contraction, the current reserve level remains higher than the $754.9 billion reported at the end of December 2025.

This indicates a recent recovery trend, with February's figures representing a partial reversal.

The stability of the foreign exchange component suggests a more consistent underlying trend for these liquid assets, while gold holdings show greater volatility.

Over the past year, Russia's international reserves have shown considerable fluctuation.

Starting at $632.4 billion in February 2025, they generally trended upwards, reaching a peak of $833.6 billion in January 2026.

This accumulation was driven by both increases in foreign exchange holdings and a substantial rise in gold reserves.

Gold holdings, for instance, nearly doubled from $217.4 billion in February 2025 to $402.7 billion in January 2026.

The current level of $809.3 billion in February 2026 remains significantly higher than the $647.4 billion recorded in March 2025.

This reflects a net accumulation over the twelve-month period, suggesting a strategic effort to bolster the country's financial buffers despite the recent monthly dip.