Russia's gold and currency reserves surge by $2.5bn

The volume of gold and currency reserves of the Russian Central Bank amounted to $42.5bn as of June 14, 2002. This means it increased by $200m, or over the past week. This rise was twice higher than a week before.

An uninterrupted rise in the Central Bank's reserves continued for more than two months, starting in April. The gold and currency reserves surged more than $5bn over this period, in general, and $2.5bn from May 10 to June 14.

At the same time, experts report that the growth rate of reserves has slowed down noticeably. Reserves increased by only $300m from May 31 to June 14 while they were surging at least by $300m weekly from April 5 to May 24.

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