Russian gold and foreign exchange reserves increase to $519.5 billion

Russia’s gold and foreign exchange reserves grew to $519.5 billion for the week ending April 20, according to central bank data released on Thursday.

The reserves grew from $518.8 billion the previous week. The value of the reserves on April 20 marks an increase of $20.9 billion since the end of 2011 when the value of the reserves was $498.6 billion, Reuters reports.

The gold and foreign exchange reserves include reserve position at the IMF, special drawing rights, monetary gold and foreign exchange.

Russia’s gold and foreign exchange reserves have increased significantly and consistently since the end of 2000. The reserves were valued at $28 billion at the end of 2000 and rose to $36.6 billion by the end of 2001. The value grew to $47.8 billion by 2002’s conclusion and further increased to $76.9 billion by the end of 2003. At the end of 2004, the value of the reserves grew to $124.6 billion and by 2005’s end, the reserves had grown to $182.2 billion.

The reserves further increased to $303.7 billion at the end of 2006 and $478.8 billion at 2007’s conclusion. The reserves dropped in 2008 to $427.1 billion, but the value rose again in 2009 and 2010 to $440.6 billion and $479.4 billion, respectively. The value of the reserves was at its highest in 2011 on the week of August 19, when it hit $544.0 billion, according to Reuters.