Business » Finance

Russian gold and currency reserves rocket - 13 March, 2003

On March 7, the volume of the Central Bank's gold and currency reserves reached $54.6bn, gaining $1.5bn over the previous week. This advance has become the most considerable since July 1998. It is worth mentioning that in July 1998, gold and currency reserves of the Central Bank grew by $1.5bn due to receiving $5.6bn in a credit from the International Monetary Fund (IMF).

The current increase in gold and currency reserves took place not due to foreign loans, but solely due to a considerable purchase of US dollars by the Central Bank from commercial banks.

The amount of gold and currency reserves has been continually going up for over two months, since January 3, 2003. Over this period, the reserves climbed $6.9bn.

Comments
How Russia can respond to Israel following Ilyushin Il20 shootdown
How Russia can respond to Israel following Ilyushin Il20 shootdown
53 million Russians may lose their jobs within a few years
Trump sows death in Gaza Strip as US to celebrate opening embassy in Jerusalem
53 million Russians may lose their jobs within a few years
Trump sows death in Gaza Strip as US to celebrate opening embassy in Jerusalem
The Globalization of the Law: A chimera
How Russia can respond to Israel following Ilyushin Il20 shootdown
How Russia can respond to Israel following Ilyushin Il20 shootdown
How Russia can respond to Israel following Ilyushin Il20 shootdown
How Russia can respond to Israel following Ilyushin Il20 shootdown
Russia sees Israel as enemy after Il-20 shootdown
53 million Russians may lose their jobs within a few years
Russia sees Israel as enemy after Il-20 shootdown
Russia sees Israel as enemy after Il-20 shootdown
53 million Russians may lose their jobs within a few years
How Russia can respond to Israel following Ilyushin Il20 shootdown
53 million Russians may lose their jobs within a few years
53 million Russians may lose their jobs within a few years
Russia blames Israel for Syria's move to shoot down Il-20 military aircraft above Mediterranean
The new war front of the confrontation between Russia and Ukraine