10:23, 20 November 2008 Page views 330 views

Central Bank’s Support of the Ruble Exchange Rate Cost Almost $60B

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According to Sergey Ignatyev, Chairman of the Central Bank of the Russian Federation, as of November 1, 2008, the volume of the gold and currency reserves of the Russian Federation was equal to 484.6 billion US dollars. He also said that in September-October of the current year the Bank of Russia allocated 57.5 billion dollars for support of the ruble exchange rate.

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