Source Pravda.Ru

Central Bank's reserves growing

The amount of gold and currency reserves of the Russian Central Bank was $48.2bn on November 29, 2002. It means that they grew by some $500m in the previous week. On the whole, the Central Bank's gold and currency reserves have surged by $2.7bn since October 18. As a result the average weekly advance in reserves was $450m.

If this growth continues until the end of this year, the Bank will add another $1.9bn by the end of 2002. As a result the reserves will amount to $50bn by the beginning of 2003, as Russian President Vladimir Putin declared in Delhi yesterday.

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