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Russia's gold & currency reserves dynamics posted
RBC, 01.09.2005, Moscow 11:38:06.As of August 26, gold and foreign exchange reserves of the Bank of Russia stood at USD148.2bn, up by USD100m from a week earlier, despite Russia's large-scale external debt repayment. As reported earlier, on August 22, Russia transferred over USD2bn as early debt repayment to the Paris Club. This said, the growth was registered because the Central Bank was buying considerable amounts of US dollars on the home market during the last five days. Most likely, it was not only on MICEX, but also immediately from commercial banks working with large exporters, that the Bank of Russia was actively purchasing dollars. Meanwhile, the rise by USD0.1bn of the Central Bank's gold and foreign exchange reserves has become the lowest since April 8. On July 1, 2005, the reserves stood at USD151.8bn, or USD3.6bn higher than in late August.
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