The reserves — worth $630bn, as of the end of January — are made up of assets and deposits denominated in the world’s major currencies (that is, the dollar, euro, sterling and the yuan). As well as almost 2,300 tonnes of gold. Highlight text The stockpile was there so that the central bank could intervene in foreign exchange markets, shoring up the rouble in the event of volatility. There’s a Jedi mind-trick aspect to building up reserves too — if markets know you’ve got a load of them, they’re less likely to challenge you to use them.