Russia’s currency reserves stand at comfortable level, says Central Bank chief

Russia’s currency reserves stand at comfortable level, says Central Bank chief
  • Clock-gray 12:04
  • calendar-gray 23 May 2019

 Russia’s gold and foreign currency reserves stand at a comfortable level and have almost reached the $500 bln target, Central Bank Chief Elvira Nabiullina said on Thursday, APAreports citing Tass.

"Last year reserves rose from $433 bln to $469 bln, as of May 1 they equaled $491 bln. Reserves are on the rise due to the fiscal rule, the current level of reserves is sufficient by any reckoning. Several years ago we said that we considered $500 bln as a certain reserves target that covers all possible risks considering external factors as well. So we see that we are almost close to that level," she said.



 

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