International reserves of Russia increased for the first time in ten weeks.

A week from 21 to 28 November, international reserves of Russia increased by 5 billion dollars to 454.9 billion dollars, said the press release, the Central Bank of Russia. This is the first increase in reserves over the past ten weeks. Since autumn 2008, Russia's international reserves declined almost continuously since the August totaled nearly 600 billion dollars.
A week before Russia's international reserves decreased by 3.9 billion dollars, and from 8 to 14 November - at 22 billion dollars. The decline in reserves was attributed to increased government spending to combat the effects of the global financial crisis. In addition, in September 2008, the U.S. currency has been rising in price, while foreign investors have been massively selling assets in Russia. It is part of the Russian Central Bank spent to support a high rate.
Note that the price of oil also had a negative impact on volumes Rezrevnogo Fund and the Fund natsblagosostoyaniya that have been established on the basis of Stabfonda in February 2008. Most of the income they receive funds from high oil prices on world markets. Once the price of oil reached a point in July to 147 dollars per barrel, it has deshevela. By early December, oil prices fell to $ 50 a barrel.
Russian international reserves are among the highest in the world. They consist mainly of dollars and euros, as well as monetary gold, reserve position in the International Monetary Fund and other assets.