Russia's gold and foreign exchange reserves grew to $463.5 billion.
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Russia’s Gold, Foreign Exchange Reserves Reached $463.5bn
Russia’s stockpile of gold and foreign exchange reserves reached $463.5 billion as of November 30, 2007. The reserves soared by $3.9 billion, or 0.85 percent, vs. the previous indicator.
Russia’s gold and foreign exchange reserves widened by $34.8 billion from October 5 through November 23, so the eight-week growth exceeded $38.7 billion (over 9 percent).
The reason of such abrupt extension could be the notable surge in the CBR’s purchase of foreign currency on domestic market. As a result, the bank currently has the record amount of reserves over the whole history of Russia and the Soviet Union.
Thanks to the growth, Russia has neared the world leaders in terms of the gold and foreign exchange reserves. China’s stockpile exceeds $1.434 trillion. The amount grew by $101 billion in the third quarter and stepped up over 45 percent on year during nine months.
Japan currently has more than $945 billion.
www.kommersant.com
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