The Bank of Russia's tentative data indicate that reserve money on the accounts of monetary authorities totaled 2.510 trillion (about $88 billion) as of July 1, 2005, including 1.650 trillion rubles of reserve assets outside banks (about $58 billion).
Reserve money aggregated 2.307 trillion rubles (about $81 billion) on June 1, 2005 and 2.424 billion (about $85 billion) on January 1, 2005. Reserve assets increased by 8.8% in June 2005 and 3.5% since the beginning of the year.
Reserve assets indicate the value of freely available money in the economy, capable of flowing swiftly into other financial instruments.
Reserve assets include cash in circulation, banks' balances on accounts with the Bank of Russia, including commercial banks' obligatory reserve accounts and demand deposits of non-financial organizations serviced by the Bank of Russia.
