The reserves are up from the value of $498.6 at the end of 2011. Gold and foreign exchange reserves include reserve position at the IMF, special drawing rights, monetary gold and foreign exchange, Reuters reports.
The value of the reserves hit its highest point of 2012 in the week ending April 27 when it reached a value of $523.3 billion. The lowest value of the reserves was the week ending August 20, when it hit $497.1 billion. The reserves have been relatively consistent between June 1 and August 3, ranging from $505.5 billion to $513.1 billion, according to the central bank.
Russia’s gold and foreign exchange reserves increased steadily between 2001 and 2007. At the close of 2001, the value of the reserves was $36.6 billion. The reserves hit $478.8 billion by the end of 2007. After dropping to a value of $427.1 billion at the close of 2008, the reserves again continued to rise to $440.6 billion by the close of 2009 and to $479.4 billion by the end of 2010, Dow Jones reports.