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Russia reports higher monetary base

January 16, 2008 | RBC

According to verified data, Russian monetary base (in the broad sense of the term) climbed 33.7 percent in 2007 and amounted to RUB 5.513 trillion (approx. USD 226.97bn) as of January 1, 2008, the Bank of Russia reported today. The total figure includes commercial banks' deposits in the Bank of Russia, which climbed by a factor of 2.7 to RUB 270.3bn (approx. USD 11.13bn) and the Central Bank's bonds held by lending institutions, which decreased 2.3 percent to RUB 100.7bn (approx. USD 4.15bn), among other things.

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