Central Bank sees upsurge in reserves over past month
The volume of gold and currency reserves of the Russian Central Bank hit$44.1bn as of August 9. This means that the bank's reserves have rocketed$600m over the past week and more than $2bn since July 5, when the newmethod of calculating gold and currency reserves was introduced.The reported volume of gold and currency reserves of $44.1bn was $500mhigher compared to the previous maximum volume, which was registered onJune 28, or less than a month and a half ago. At the same time, the rise ingold and currency reserves of the Central Bank was 1.5 times less over thepast week as compared to the previous week. The bank's reserves went up$900m from July 26 to August 2. This was a record increase since May 2002..
