Thursday, March 26, 2009

Reserves Russia has increased by nine billion dollars per week.

The volume of international reserves of Russia for a week from 14 to 20 March rose to 9.2 billion dollars to 385.3 billion dollars. This is stated in the official press release of the Central Bank.
Recall that in early 2009, the reserves of Russia is 426 billion dollars, and in August 2008 - almost 600 billion. Monetary authorities had to spend a significant part in maintaining the currency exchange rate in a devaluation. Since February, a sharp outflow of international reserves has ceased, as the devaluation of the ruble over.
In the first two weeks of March, Russia reserves slightly decreased: at the end of February compared with 384.3 billion dollars, and March 13 - 376.1 billion dollars.
Rather, as soon as possible reserves of Russia will be reduced because the Government will send the budget from the Contingency Fund. This is necessary to cover the budget deficit.
On the other hand, investors in the markets in March actively bought up rubles, which is why the Central Bank had to buy the currency at the exchange. According to the First Deputy Chairman of the Central Bank Alexey Ulyukaeva, the March monetary authorities purchased on the market five billion dollars. Words Ulyukaeva RIA News.

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