Central Bank reserves could reach $60bn this year - 14 March, 2003

The gold and currency reserves of the Russian Central Bank could exceed $60bn by the end of 2003, Central Bank Deputy Chairman Oleg Vyugin has told journalists today. According to him, currently the reserves amount to about $55bn.

Vyugin said that it would not influence the inflation rate considerably. By the end of the year the inflation could amount to 13 percent or 12 percent, which is in line with the budget. The inflation in March is likely to be 1 percent, he added.