According to estimates of the Economic Development and Trade Ministry, Russia's gold and currency reserves will rise to $49bn by the end of this year, Senior Deputy Economic Development and Trade Minister Ivan Materov announced at a briefing today. He stated that gold and currency reserves had been at $36.6bn as of January 1, 2002, and at $47.1bn as of November 8, 2002. "In the event the upward tendency regarding gold and currency reserves continues until the end of this year, the reserves will rise by $1.5-2bn compared to current figures," the official stressed.
In addition, Materov reported a four-fold reduction in capital flight - from $12bn in January-September 2001 to $3bn in the first nine months of 2002.
Russian Finance Minister Anton Siluanov announced a possible move that Russia can take in response to new US sanctions
The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America