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Russian Forex&Gold Reserves At Record High

The Central Bank of the Russian Federation announced its gold and foreign currency reached a new record level

The Central Bank of the Russian Federation announced that in June 24-July 1week its gold and foreign currency reserves have grown by $2.2 billion and reached a new record level of $151.8 billion.

Compared with Jan. 1, 2005?s $124.5 billion reserves, the figure has grown by 21.9 percent. Russia?s Deputy Prime Minister Alexander Zhukov announced on June 20 that over the course of the year the country?s gold and forex reserves will grow by $45-50 billion in total.