International reserves have increased in Russia on New Year's week, half a billion dollars.

The volume of Russia's international reserves rose in the week from 2 to 9 January to 500 million dollars to 426.5 billion dollars. This was reported in the press release of the Bank of Russia. In general, the 2008 reserves fell by 11 per cent. In early January 2008, they accounted for 478 billion recorded at the beginning.
The slight increase in reserves during the first week of the year, most likely attributable to revaluation of their value because of changes in exchange rates, as trading on exchanges during the week were not. Russian ZVR stored mainly in dollars and euros. A small part is available in gold, the British pound and the yen.
The international reserves of Russia reached the peak in August 2008 and came close to the mark of 600 billion dollars. Then they began to decline sharply. The financial crisis and capital outflows from the country's Central Bank was forced to sell the currency to avoid the uncontrolled devaluation of the ruble.
In January, the Central Bank devalviroval rubles 0,5-1 percentage relative to the basket bivalyutnoy four times already. It is anticipated that the Bank of Russia has decided to actively discourage least further reduce the rate of Russian currency.