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Russia's international reserves rising for 11 weeks
RBC, 30.04.2008, Moscow 10:58:09.Russia's gold and currency reserves reached $529.5bn as of April 25, up $10.7bn, or 2 percent, from the previous showing. Combined with a $37.8bn increase over the previous ten weeks, reserves grew a total of $48.5bn, or more than 10 percent during the past 55 working days. The rapid rise in reserves can be linked to the euro's considerable advance against the dollar on international exchanges, as well as the Central Bank's active acquisitions of foreign currency on the domestic market. The Central Bank has purchased over $20bn since the beginning of April, the Central Bank's First Deputy Chairman Alexei Ulyukayev stated five days ago. As a result, Russia has slightly narrowed the gap separating it from China and Japan, the global leaders in terms of reserves. China's reserves currently exceed $1.68 trillion, while Japan's reserves reached $1.02 trillion in late March.
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