Russia's gold and currency reserves spiraling up

On October 17, the volume of gold and currency reserves of the Russian Central Bank amounted to $63.8bn, stepping up $300m over a week. The reserves have been rising for two weeks in a row. As reported earlier, on October 3 to 10 they grew $1.1bn.

Commercial bank dealers attribute these developments to the Russian Central Bank buying dollars in large volumes on the domestic market. On October 9 and 13, the Bank purchased as much as $2bn.

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