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Russia posts surge in international reserves

January 09, 2008 | RBC

Russia's gold and currency reserves amounted to USD 463.5bn as of December 1, up 4 percent from USD 447bn compared to a month earlier, the Bank of Russia reported today. The rise in international reserves can be linked to the Bank of Russia's interventions on the domestic currency market.

In November, changes in international reserves were linked to higher revenue from exports and foreign capital inflow that resumed after a brief lull. Meanwhile, the basket of currencies did not change significantly.

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