Logo
  Thursday, October 29, 2020
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Russia has world’s second highest gold and currency reserves
MOSCOW - The current volume of Russia’s gold and currency reserves will allow its 12-month imports to be paid off, Russian President Vladimir Putin stated at a traditional Monday meeting with the Cabinet. The Russian leader pointed out that in this regard Russia was the second in the world. According to Mr. Putin, only Japan is ahead of Russia in this respect; it can pay off its imports for 19 months. It is worth mentioning that as of December 19, 2003, the gold and currency reserves of the Russian Central Bank were $74.5 billion. In their turn, Japan’s reserves amounted to $626 billion as of November 2003. At the same time, the Bank of Japan purchases US dollars to keep the currency rate from falling. The Russian currency market is much smaller than Japan’s. Correspondingly, the volume of Russian Central Bank’s interventions is less. In president Putin’s opinion, the considerable advance of the Central Bank’s reserves “is one of the brightest and best figures of 2003”. The Russian leader added that the reserves of the Central Bank had continued surging. Over the past week, Russia’s gold and currency reserves gained $2.7 billion. According to the Central Bank, as of December 19, 2003, the country’s gold and currency reserves reached $74.5 billion, while on December 12, 2003, they were $71.8 billion. Such a significant growth over five business days was the greatest since May 23, 2003, which was almost seven months ago. An advance in gold and currency reserves of the Russian Central Bank has been underway since November 7, 2003. Over this period, they went up $9.8 billion, including almost $4 billion over the past two weeks.
Print Russia has world’s second highest gold and currency reserves Bookmark Russia has world’s second highest gold and currency reserves

Related News   
NovDecember 2003Jan
MoTuWeThFrSaSu
24252627282930
1234567
891011121314
15161718192021
22232425262728
2930311234