Russia's Central Bank announced on Thursday that the deficit in foreign currency liquidity it underwent in the first half of October 2022 has now stabilized.

The Russian Central Bank's review of financial market risks states that the Russian economy recovered from a temporary deficit in foreign currency liquidity in part due to a $9.4 billion reduction in banks' commitments to customers.

"The risk of sanctions expansion and the outflow of foreign currency liabilities caused a shortage of foreign currency liquidity on the domestic market. The situation stabilized by late October after a gradual increase in the supply of currency," the document read, adding that the deficit was caused by a simultaneous increase in demand and a decrease in the supply of currency.

$9.4 billion was the amount of funds on demand by some key players and traders in the forex market that were issued via funds outflow from legal entities and individuals, the review adds.

Russia experienced a surplus in trade with some of its allies, including China which increased its exchange trading from 27% in September to 31% in October.

As for the US dollar, it fell to its lowest point since the beginning of the year and amounted to nearly 42% of the total trading volume, compared to 46% in September.

Since the beginning of the 1990s, all wars waged by the US were predicated upon preserving the hegemony of the US dollar; the ability to print "money" out of thin air, and "sterilize" it in external markets.

Though some believe the US financial empire can only be defeated by rejecting its money, others argue that other alternatives to the US dollar are even worse, mainly because it is argued that the US currency has the largest secured bond market in the world, backed by the strongest military in the world.

But seizing Russia's off-shore foreign exchange assets has inflicted a mortal wound on both the liquidity and perceived security of US sovereign debt.