MOSCOW, Dec 1: The Bank of Russia said on Thursday its reserves of gold and foreign currency had increased by $3.9 billion (3.3 billion euros) in the week to November 25, reaching a new record of $167.2 billion.
Russia, the world’s second-biggest exporter of oil, has reported a sharp increase in its reserves in the recent months because of the surge in the price of crude.
In November, the vice chairman of the central bank, Alexey Ulyukaev, said that the bank’s reserves would increase in 2006 by between $21-104 billion depending on macroeconomic developments.—AFP
