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Russia posts greater gold and currency reserves

February 08, 2008 | RBC

The Bank of Russia's gold and currency reserves amounted to $484.5bn as of February 1, up $5.1bn, or more than 1 percent, from the previous showing. Russia's gold and currency reserves have been growing for six weeks in a row, having increased $18.3bn, or 3.9 percent, since December 21, 2007 and reaching a new all-time high. As a result, Russia has slightly narrowed the gap from China and Japan, the world's leaders in terms of gold and currency reserves, which currently hold $1.5 trillion and over $973bn in reserves, respectively.

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