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Gold and currency reserves keep growing
RBC, 04.11.2004, Moscow 14:47:09.The volume of the gold and currency reserves of the Russian Central Bank reached $107.3bn on October 29 having gained $2.1bn over the previous five business days. The reserves have advanced for the tenth week in a row. In this period they surged $19bn. This has been the fastest pace of growth in the reserves in a 50-workday period of time since information about the reserves has been posted. The reason for this substantial increase in the reserves was the massive purchase of dollars on the domestic market by the Central Bank, which has been buying dollars on MICEX and directly from first-tier banks. For example, today the Central Bank bought at least $2bn in the first three hours of trading at the UTS for tomorrow deals.
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