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Russia's central bank reports international reserves at US$720.3 billion at end-July, ruble at 81.41 per US dollar

The Bank of Russia published its July 2026 reserve data on August 7, showing total international reserves nearly flat at US$720.3 billion, down 0.01 percent from June; monetary gold fell 2.05 percent to US$292.854 billion on revaluation; the ruble was set at 81.41 per US dollar and 94.06 per euro for August 7

Money· active Whose Money ·3 takes · ·rbtfl upd Aug 7, 2026
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Summary

The Bank of Russia on August 7 published its July 2026 reserve data, showing Russia's international reserves at US$720.348 billion, virtually unchanged from June (down 0.01 percent). In the final week of July, reserves fell US$11.8 billion to US$720.3 billion, the central bank saying the drop was driven by negative revaluation of assets, not by active spending. Monetary gold, a large share of Russia's holdings, fell 2.05 percent in value to US$292.854 billion. The Bank of Russia set the official ruble rate at 81.41 per US dollar and 94.06 per euro for August 7.

Why it matters

Russia has maintained reserves above US$700 billion throughout the post-2022 sanctions period, using the buffer to stabilise the ruble and fund the war budget without triggering a currency crisis. The July data show the buffer is holding. The monetary-gold component, worth nearly US$293 billion, represents a significant fraction of total reserves; a sustained fall in gold prices would put pressure on the total.

What to watch

  • Whether gold price movements push total reserves below US$700 billion
  • The ruble exchange rate for signs of pressure on the Bank of Russia to defend the currency
  • Next monthly data release showing whether July's stability continues into August

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